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Signs of weakening of bearish pressure

Signs of weakening of bearish pressure | 04 September 2015

04 September 2015, GBP/USD

The daily chart: continued pressure in the direction of the strong support 1.5178.

Signs of weakening of bearish pressure

Н4: in turn, here we see a a developing convergence, which, as a rule, weakens bearish trend. Confirmation would be rise to the upper Bollinger line (1.5377)

Signs of weakening of bearish pressure

Н1: local resistance - 1.5281 and 1.5295. Support at 1.5226.

Signs of weakening of bearish pressure

Expectations: Growth from the current levels in the area of ​​1.5296, and then a pullback down to 1.5226.

solutions:

1) Buy to 1.5296

2) Sell from 1.5296 to 1.5226

3) Again buy from 1.5226 (with confirmation signal)

Aleksey Panasenko
FreshForex Analyst
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