Limited bullish potential

31.05.2021

Daily chart: British pound maintains a steady demand in the middle Bollinger band (1.4092-1.4100). The accumulation has been going on for more than two weeks, which, as a result, will be translated into a new impulse to the upper band (1.4292). But, probably, this will not happen today because of the weekend in the United States and Britain.

Н4: local area of consolidation – 1.4163-1.4185 (middle Bollinger band). Common sideways borders – 1.4092-1.4225 are tested outside of one trading session.

Н1: within the day the pair also confirms the horizontal nature of trading. The range is limited by the size of Bollinger envelopes (1.4155-1.4211), and this trend will probably continue throughout the trading session.

Conclusions: flat in the range 1.4155-1.4211.
Trading decisions: short-term deals in the range 1.4155-1.4211.