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Bearish pressure

Bearish pressure | 02 July 2015

02 July 2015, GBP/USD

Daily chart: pressure from ADX, so support is from the middle Bollinger band (1.5609) is under exposure it that can rbing the price down to the bottom line (1.5258)

Bearish pressure

Н4: attack of the bottom Bollinger envelope on growing ADX. If resistance is 1.5690 (the middle Bollinger band) will keep bulls, one can enter sale up to 1.5258.

Bearish pressure

Н1: local convergence of the oscillator allows to expect a higher pullback up to 1.5644.

Bearish pressure

Expectations: pullback upwards to 1.5644 and start of decline under 1.5609, with the middle-terms target at 1.5258.

Trading decisions:

1) Sales from 1.5644 to 1.5258 (exraday).

Aleksey Panasenko
FreshForex Analyst
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