GBPUSD – Growth ceiling is possible at 1.2545

15.11.2023

Daily: bulls actively broke through the upper Bollinger envelope. However, the trend potential of the ADX indicator is not keeping up with the market growth, which may require a downward correction.

H4: outside the upper Bollinger envelope for the third bar in a row. We expect growth to the area of 1.2600-1.2613, and the subsequent reversal downwards.

H1: we also note strong resistance at 1.2545 (upper Bollinger band). Here overbought may become too big for the pair to be able to grow higher.

Conclusions: growth to 1.2545, then pullback to 1.2355.

Recommendations: Buy at 1.2545. Sell from 1.2545 to 1.2355.