Daily: Trades are on the decline in the center of the upper Bollinger band zone (1.3534-1.3665). ADX indicators are in the active zone, and the price can quickly reach the lower band of the range.
Н4: A stable support level in the area of the lower Bollinger envelope (1.3572) will be able to keep the pressure of the bears for some time, pushing the quotes towards the middle line at 1.3606.
Н1: There is a strong zone of demand for the GBP in the area of 1.3572-1.3585. There are no significant turnovers on the ADX yet, which may well give the market an opportunity for a correction to the middle Bollinger band (1.3606-1.3611).
Scenarios:
- Main – Reversal down to 3572 and 1.3534, after rebound from 1.3606.
- Alternative – Decrease immediately to 1.3534.
Recommendations: Sell from 1.3606 to 1.3572 and 1.3534.