GBPUSD – Buyers Retain Initiative

12.01.2022

Daily: The Upper Bollinger Band has increased significantly and indicates the main target of buyers in the 1.3695-1.3700 area. The potential of the ADX trend is significant, so it is advisable to consider buying on a currency pair.

Н4: Area of ​​purchases – 1.3621 and 1.3586, which can be reached by consolidation. The main upside resistance is at 1.3647 (Upper Bollinger Bands).

Н1: The upper Bollinger band has not been broken, so there is a chance for a deeper pullback to the 1.3575-1.3586 zone.

Scenarios:

  • The main one is a rebound upward from 1.3621 and growth to 3695.
  • Alternative – a decline to the 1.3575-1.3586 zone, then an upward reversal.

Recommendations: waiting for clear buy signals at 1.3621 and 1.3585.