GBPUSD – Buyers have the advantage

05.04.2023

Daily: The upper boundary of the Bollinger envelopes at 1.2533 will be tested as soon as possible. Then the bears will get their chance to sell off, triggered by bulls fixing. But the intrigue is preserved by an active ADX.

H4: Here the advance of the buyers is not so confident, with signs of RSI divergence. Thus, the level of 1.2533 is obviously a controlling one.

H1: Here the upper Bollinger band is slightly higher (1.2542). This indicates that the pair is pushing through the circular level of 1.2500. The demand zone, in this case, is in the middle band area (1.2462). Its testing cannot be ruled out.

Conclusion: Growth towards 1.2542. Tentative test of the level 1.2462 is possible.

Recommendations: Buy from 1.2462 to 1.2542.