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Waiting when 1.5986 is reached

19 June 2015, GBP/USD

Daily chart: a strong dymanics of bulls, but divergence of oscillator also presents so a pullback to the middle Bollinger band (1.5488) is possible. From this point, the pair can get a potential to reach new Highs.

Waiting when 1.5986 is reached

Н4: a better shaped support at the middle Bollinger band (1.5744). Intraday resistance - 1.5986 (the upper Bollinger band).

Waiting when 1.5986 is reached

Н1: narrowing of envelopes, pressure of ADX - all these can allow bears to work 1.5744. But I would recommend you to abstain from sales.

Waiting when 1.5986 is reached

Expectations: decline to 1.5744 and then growth to 1.5986

Trading decisions:

1) Buying from the area 1.5744 to 1.5986.

Aleksey Panasenko
FreshForex Analyst
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