Trading range 1.3406-1.3458

22.11.2021

Daily chart: quotes of the British pound fell on Friday and did not reach the middle Bollinger band (1.3559). This, obviously, speaks of the weakness of the bulls, and, accordingly, of the good perspectives for a decline. Meanwhile, the scenario of the decline may be delayed, inasmuch as we see no activity from the ADX indicator.

Н4: support in the area of the lower Bollinger band (1.3406) was reliably protected on Friday, therefore, against the background of the absence of trend potential, we can expect further trades within the lower envelope (1.3406-1.3458).

Н1: the hourly lower Bollinger envelope has been broken, so the pair will remain under pressure in the direction of support at 1.3406.

Conclusions: flat in the range 1.3406-1.3458.
Trading decisions: selling to 1.3406 from 1.3458.