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We shall pass correction and sell after it

06 July 2015, GBP/USD

Daily chart: bears start to press on the bottom Bollinger band (1.5318)

We shall pass correction and sell after it

Н4: ADX/RSI can let the pair through a slight correction towards the middle Bollinger band (1.5614), whereupon bears can break the bottom envelope.

We shall pass correction and sell after it

Н1:a light convergence of the oscillator also speaks about necessity of correction.

We shall pass correction and sell after it

Expectations: correction to 1.5614 and then decline under 1.55

Trading decisions:

1) We should sell from 1.5614 to 1.55

Aleksey Panasenko
FreshForex Analyst
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