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Preparing to grow to 1.5767

Preparing to grow to 1.5767 | 03 July 2015

03 July 2015, GBP/USD

Daily chart: the middle Bollinger band has refrained bears yesterday which enables bulls to attack up to the upper band (1.5960).

Now sellers need to break yesterday's Low to claim for a new decline (marked by the black arrow).

Preparing to grow to 1.5767

Н4: ADX/RSI, can be a sign of one more downward wave to 1.5556, from where the price may move up 1.5767.

Preparing to grow to 1.5767

Н1: a well-shaped bulls' momentum but not quite active ADX, which may signify a preparation of a breakthrough of the upper envelope and a following retest of the middle Bollinger band (1.5609), from where we will buy Pound .

Aleksey Panasenko
FreshForex Analyst
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