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Flat 1.5540 -1.5600

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.

Flat 1.5540-1.5600

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

Flat 1.5540-1.5600

Н1: the support is located lower (1.5540), but resistance is better shaped as well (1.56).

Flat 1.5540-1.5600

Expectations: Flat 1.5540-1.5600.

Trading decisions:

1) Purchases from 1.5540 to 1.5600.

Aleksey Panasenko
FreshForex Analyst
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