GBPUSD – No trend potential

17.12.2021

Daily: A spectacular fixation on the upper Bollinger band did not show up in any way on the ADX indicator, which suggests a high probability of a rebound from the upper envelope (1.3393).

Н4: Quite a strong local resistance area 1.3343-1.3358 (upper Bollinger line), probably supported by significant sell volumes.

Н1: There is a tendency to consolidate within the 1.3303-1.3343 lines. There is no potential for the development of the trend at all time periods, which allows us to speak of a sideways movement.

Conclusions: Lateral within 1.3303-1.3343.

Solutions: Short-term orders within 1.3303-1.3343.