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With the breakdown of support 1.5295 target will be 1.5166

With the breakdown of support 1.5295 target will be 1.5166 | 23 September 2015

23 September 2015, GBP/USD

The daily chart: Bears managed to bring the pair to the lower envelope and now we have an increased probability of further decline. The target may be the lower Bollinger band (1.5166)

With the breakdown of support 1.5295 target will be 1.5166

Н4: local support in the area of ​​1.5341 (the lower Bollinger band, plus pivot zone). If it is broken, the way will be open to 1.5166.

With the breakdown of support 1.5295 target will be 1.5166

Н1: as we see, here sellers have a lower target - 1.5295.

With the breakdown of support 1.5295 target will be 1.5166

Expectations: 1) The main scenario - decline to 1.5295 and then bounce to 1.5350-1.5370. 2) The alternative scenario - break down lower and 1.5166 as the goal.

solutions:

1) We shall monitor respond to the support 1.5295 and sell on pullbacks in the upward direction. Target - 1.5166 (if breakthrough of 1.5295 is confirmed).

Aleksey Panasenko
FreshForex Analyst
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