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Growth to 1.5862 is possible

22 May 2015, GBP/USD

Daily chart: bulls are successful in the inside bar, which confirms a general ascending potential. Nearest target of movement is 1.5862 (the upper Bollinger band)

Growth to 1.5862 is possible

Н4: ADX is active, whereas Bollinger envelopes are passive. Direct growth and return to the middle Bollinger the middle Bollinger band and a main phase of growth Xafter a breakthrough of the bottom envelope are equally probable.

Growth to 1.5862 is possible

Н1: gripe of envelopes in expectation of impulse. Upon that, ADX is weak.

Growth to 1.5862 is possible

Expectations: So, we wait for growth to 1.5862 with a probable transfer to the next week.

What we are going to do:

1) Buying from current levels to 1.5862

Aleksey Panasenko
FreshForex Analyst
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