Daily: The pound is clearly ready to retest the upper Bollinger band, which is in the area of the strongest resistance (and also an important psychological level) of 1.2400.

H4: The nearest relevant target for buyers is the upper Bollinger band (1.2345). The ADX indicator is in the strong zone, so a bulls’ breakthrough higher also cannot be ruled out.

H1: We note a strong resistance level inside the day – 1.2321 (upper Bollinger band). But, given the ADX trending potential on all timeframes, the probability of growth is much higher than the possibility of a reversal downwards.

Conclusions: rise to 1.2345, with a target at 1.2400.

Recommendations: Buy to 1.2345 and 1.2400.