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1.5894 is ceiling

18 June 2015, GBP/USD

Daily chart: the upper Bollinger envelope is broken by a strong long signal, so we are expecting that Pound will continue to grow. This setup can imply a pullback to the middle Bollinger band (1.5474), where the best possible area of purchase is based.

1.5894 is ceiling

Н4: better shaped support at the middle Bollinger band (1.5652)

1.5894 is ceiling

Н1: a local ceiling is supposedly based within 1.5894-1.5900, because we have current ADX/RSI status as it is.

1.5894 is ceiling

Expectations: growth to 1.5894 and start of correction to 1.5652.

Trading decisions:

1) Kepping purchases to 1.5894

2) Selling from 1.5894-1.59 to 1.5652.

Aleksey Panasenko
Analyst of «FreshForex» company
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