21 July 2015, GBP/USD
Daily chart Both the price and ADX are getting lower, Bollinger envelopes are getting narrower. By all appearance, consolidation with a descending inclination will continue.
Н4:support is from the bottom Bollinger band (1.5553) is holding the price and there are no signs from ADX. Therefore, an ascending correction to the area of the upper line (1.5632-1.5650) is quite probable
Н1: the support is located lower (1.5540), but resistance is better shaped as well (1.56).
Expectations: Flat 1.5540-1.5600.
1) Purchases from 1.5540 to 1.5600.
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