GBPUSD – Flat
Daily chart: ADX is correcting to the downside firmly, so break of upper Bollinger envelope (resistance at 1.2431) is not likely today. A drop towards lower band (1.2080) is more likely to start today.
Н4: upper Bollinger band is edging higher than daily chart resistance, so there is a risk of upper Bollinger band break. However, ADX remains weak, so I suggest that we consider scenario of bouncing down to 1.2431
Н1: much more localized resistance level is at 1.2353 (upper Bollinger band). It seems possible that this level will restrain the price (see red arrow). Alternative is moving to 1.2431 region (see blue arrow)
Core scenario – touch in 1.2353 region and then slipping towards 1.2262
Alternative scenario – break to 1.2431 and the decline
Solutions: consider selling from 1.2353 or 1.2431 region (depending on the scenario)