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