GBPUSD – Trading range 1.3415-1.3466

01.02.2022

Daily: The pair found support in the area of ​​the lower Bollinger band (1.3342-1.3368), which may allow the market to correct towards the middle Bollinger band (1.3552). But we should not forget about the broken lower envelope, which will keep the positional opportunity for sellers to attack.

Н4: we note a strong local resistance at 1.3466 (upper Bollinger band). There is no potential for a breakout higher yet.

Н1: there is also a very low level of trend activity of the ADX indicator inside the day, which limits potential volatility to the range of Bollinger envelopes (1.3415-1.3466).

Conclusions: consolidation in the range of 1.3415-1.3466.

Decisions: short-term trades in the range of 1.3415-1.3466.