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Resistance 1.5575, support 1.5385

Resistance 1.5575, support 1.5385 | 27 August 2015

27 August 2015, GBP/USD

The daily chart: the price has reached the lower Bollinger band (1.5456) -a traditionally strong support when we have horizontal envelopes. Therefore, a roll up very likely to happen.

Resistance 1.5575, support 1.5385

Н4: we can consider bullish O & U, plus three bars outside the envelope, which also tells about the northern determination. A possible goal of correction - the area of the middle Bollinger band (1.5680).

Resistance 1.5575, support 1.5385

Н1: is much more localized resistance at 1.5575, plus unfinished lower Bollinger band (1.5385)

Resistance 1.5575, support 1.5385

Expectations: 1) Rollback to 1.5575 and then falling to 1.5385.

Trading solutions:

1) Sales from 1.5575 to 1.5385

Aleksey Panasenko
FreshForex Analyst
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