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Premarket review on the Pound. What we can expect on Monday

21 September 2015, GBP/USD

The daily chart: bulls were unable to bring the attack to its logical end (reaching the top Bollinger band - 1.5770), however, in view of the weak ADX and horizontally arranged flat envelopes, we can assume the downward phase of the flat market and as a result, decline in the direction of the lower band (1.5129).

Premarket on the Pound. What we can expect on Monday

Н4: here, as you can see, the upward potential is not exhausted. We expect the pair to get to the support line from the middle Bollinger band (1.5485) and an attempt to finalize the new Highs (red arrow). If the middle band is broken, then the pair drops to the lower band (1.5306).

Premarket on the Pound. What we can expect on Monday

Н1: important bearish resistance from the middle band (1.5579). Support in the area of ​​1.5485 and 1.5447. ADX is active, envelopes are expanded, so prevailing scenario - going down.

Premarket on the Pound. What we can expect on Monday

Expectations:

1) decline to 1.5485, 1.5447 and possibly to 1.5306.

2) In the case of a break above 1.5579 - the pair may grow to 1.57

solutions: to Sell to 1.5306

Aleksey Panasenko
FreshForex Analyst
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