Daily: the pair has difficulties to pass the resistance in the upper Bollinger Band area. Also the factor of psychologically important circular level 1.2000 has its influence.

H4: The bears’ strong defence of the upper Bollinger envelope zone also indicates about the probable end of the ascending wave.

H1: stable horizontal Bollinger envelopes limit the potential volatility to the levels of 1.1800-1.1928, which is enough for the British pound.

Conclusions: a flat in the range of 1.1800-1.1928.

Recommendation: trade in the range of 1.1800-1.1928.