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Wait for a rollback from 1.58-1.5845

15 May 2015, GBP/USD

Day chart: upper Bollinger band shows 1.5845, but it is a very strong resistance for such growth. So, we are waiting for decline to 1.5581

Wait for a rollback from 1.58-1.5845

Н4: there is a divergence oscillator, which proves our forecast about correction. An additional indicator for us is the correlation with the Eurodollar chart.

Wait for a rollback from 1.58-1.5845

Н1: local resistance at 1.58. Internal support at 1.5744.

Wait for a rollback from 1.58-1.5845

Expectations: so, a strong rollback is expected from 1.58-1.5845 area to 1.5744

Trading decisions:

1) You are late for buyings, so look for short-signal at 1.5800-1.5841 area.

Aleksey Panasenko
Analyst of «FreshForex» company
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