20 August 2015, GBP/USD
The daily chart: ADX came into the active zone, so upward leap is expected in the near future. As you can see, bulls failed to break the upper envelope, so some rollback is possible. At the same time, we notice bullish Inside bar.
Н4: 1.5644-1.5709 - this is the clamping range until ADX turns on fully, which will be very soon.
Н1: weak performance of ADX, so the day can pass in the corridor 1.5644-1.5700.
Expectations: flat 1.5644-1.5700, but it is the calm before the storm. The storm is expected to the north, so I would advise you to refrain from sales.
1) Buy from 1.5644. Targets- 1.57, and 1.58 (extraday).
We are constantly improving our website quality. If you have any suggestions on how to make our website better or noticed an error on the website, please tell us