Daily: the bulls managed to “drill” the dynamic resistance at 1.2251 (middle Bollinger band). Are they ready to move further towards the upper line (1.2475)? Unlikely. This conclusion is suggested by the weak falling ADX indicator.

H4: the pair has reached the upper boundary of the Bollinger envelopes (1.2294), from where the price may pullback to 1.2217 (midline). Here may be the optimal area of demand for the pound.

H1: a breakdown of the upper Bollinger envelope was recorded here, which is a signal to buy from the middle band (1.2251). We consider the growth from this zone to 1.2300.

Conclusions: pullback to 1.2251, then growth to 1.2300.

Recommendations: Buy from 1.2251 to 1.2300.