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Descending dynamics with a possible flat

08 June 2015, GBP/USD

Daily chart: the pair is based in the bottom envelope even in the middle of the range, so we need to wait when the price will respond to the bottom/ middle Bollinger bands. Break of support 1.5149 will enable a more significan decline.

Descending dynamics with a possible flat

Н4: here is the range of envelopes 1.5227-1.5413

Descending dynamics with a possible flat

Н1: resistance is better shaped here 1.5311.

Descending dynamics with a possible flat

Expectations: scenario of flat - range 1.5227-1.5311. upon breakthrough below 1.5227 - another scenario - decline to 1.5149.

Trading decisions:

1) Wait when it gets clear or signals either try to sell from the area 1.5311 to 1.5227 and 1.5149.

Aleksey Panasenko
Analyst of «FreshForex» company
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