Trading range 1.3768-1.3847

07.07.2021

Daily chart: the pound has duplicated the massive bearish bar of the euro, therefore, despite the divergence in the RSI, further development of the downward medium-term wave in the direction of 1.3691 (lower Bollinger band) can be expected.

Н4: local phase of the market is upward correction. The potential for a pullback is either the middle (1.3825) or the upper (1.3888) Bollinger bands. Sell signals, which are generated at these levels, will have a high probability of being worked out.

Н1: within the day there is also a low trend activity of the ADX, therefore, the forecast for the day will be the market consolidation within the Bollinger envelopes (1.3768-1.3847).

Conclusions: flat within the range 1.3768-1.3847.
Trading decisions: searching for sell signals in the 1.3847 zone