Forex

On the day chart the descending trading corridor remains. At the same time the exchange rate is located above an average line of a Bollindzhera strip that specifies in possible further growth of the British pound. The index of the Commodity Channel left oversale zone that as specifies in possible growth of pound/dollar, but technical indicator ADX does not submit accurate signals on buying, cuz 13-period-DI is located above 13-period +DI, and itself ADX falls.

On 4 hour chart a situation more unequivocal. Bulls managed to leave a descending triangle that has interested aggressive buyers and pound has started to grow. Indicator ADX gives a quite good signal on buying as 13-period-DI it is located more low 13-period +DI, and itself ADX smoothly grows.

In this case the first possible purpose of bulls is located at the level 1.4550 which breakdown can open a way to new higts.