27 May 2015, GBP/USD
Daily chart: Bears managed to get into the bottom envelope and now everything is ready for a further decline of price to 1.5065 (the bottom Bollinger band). We will try to assess their potential using younger charts.
Н4: A serious support is based on 1.53 (the bottom Bollinger band). A slight convergence of oscillator is present, but it also puts a breakthrough into a question.
Н1: we also see a bullish convergence here. So, when Lows are updated (or perhaps, without this update), we will wait when upward movement will start to 1.5472
Expectations: decline to 1.53 and growth to 1.5472
1) We sell to 1.53
2) We buy from 1.53 to 1.5472.