Daily: the downward correction started, it is logical to expect the pair at the middle Bollinger band (1.2185). The upper envelope has not been broken through, so this area is key.

H4: In the area of 1.2278 (lower Bollinger line), support for the pound is also preserved. It is possible that the price will consolidate within the lower envelope (1.2278-1.2352).

H1: we also note stable Bollinger envelopes limiting the trading range of 1.2305-1.2339. Whether such a small number of points will be enough for the “Briton” is the question.

Scenarios: 

• Main – decrease to 1.2278.
• Alternative – flat in the range of 1.2305-1.2339.

Recommendations: Sell from 1.2339 to 1.2305 and 1.2278.