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Correction to 1.54 is possible

02 September 2015, GBP/USD

The daily chart: Bears are forcing new lows, which is related to active ADX.

Correction to 1.54 is possible

Н4: locally very passive status of ADX, therefore, there is a high probability of continuation of the flat within the range of 1.5278-1.5426.

Correction to 1.54 is possible

Н1: here ADX in the ceiling, and oscillator shows multiple signs of convergence, so we're waiting for rebound from 1.5269 towards 1.54 (upper Bollinger band).

Correction to 1.54 is possible

Expectations: touch of zone 1.5269 and rebound to 1.54.


1) Buying 1.5269 to 1.54.

Aleksey Panasenko
FreshForex Analyst
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