Bullish potential

23.02.2021

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Daily chart: very strong trend pressure of the bulls indicates the predominant probability of a breakdown of the 1.4100 zone and further growth of the British quotes to 1.4200. No alternative to such a scenario is currently visible.

Н4: the nearest goal for purchases is the dynamic resistance level 1.4124 (upper Bollinger band). However, there is also a high trend activity on the part of the ADX indicator in favor of the continuation of the upward trend.

Н1: the hourly chart is the only timeframe where the ADX trend pressure is not present. Therefore, inside the market consolidation is possible in the range 1.4069-1.4105 before a new upward surge.

Conclusions: continued growth to 1.4200. Accumulation is possible in the range 1.4069-1.4105.
Trading decisions: purchases from the 1.4069 zone to 1.4105 and 1.4200.