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Flat is possible

23 June 2015, GBP/USD

Daily chart: everything is coming to technical correction to the middle e Bollinger band (1.5514), whereupon a new Northern potential can be received.

Flat is possible

Н4: Meanwhile, ADX has not reached acive area (though it is gathering momentum), so today the pair may be traded within Bollinger envelopes (1.5780-1.5925)

Flat is possible

Н1: critical support 1.5767, break of which the price may lead to a breakthrough of the bottom envelope. In its turn, it may lead to decline. A poorly active ADX says that this level will be protected by bulls.

Flat is possible

Expectations: a well expressed bearish pressure, but flat is possible if the support 1.5767 sustains.

Trading decisions:

1) Waiting. if support 1.5767 is broken, we shall put Sell Limit at 1.5810 expecting middle-term decline to 1.5514.

Aleksey Panasenko
Analyst of «FreshForex» company
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