GBPUSD – Will NFP Strengthen Upward Potential?

04.02.2022

Daily: Pounddollar fixed in the upper Bollinger band, yesterday leveling the efforts of the bears in the formation of the inside bar. So, after a certain correction to the average envelope (zone 1.3551-1.3561), we should expect further growth of quotations, which is also enhanced by today’s rich news background.

H4: Consolidation within the upper Bollinger band (1.3551-1.3632). For NFP, such an area may be fat. Although in recent months, weak nonfarms have happened quite often.

Н1: Bollinger bands are also narrowing inside the day – in the trading range 1.3562-1.3617. Trades are expected within this framework until 13:30 UTC, after which momentum in any direction.

Conclusions: Trading in the corridor 1.3562-1.3617, then an impulse (more likely – bullish).

Recommendations: Buys from the 1.3562 area.