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Signs of weakening of bears

Signs of weakening of bears | 25 September 2015

25 September 2015, GBP/USD

The daily chart: a very important support at the lower Bollinger band (1.5147). It can either make the pair bounce off in the area of ​​the middle band (1.5350) or let bears move to 1.4964.

Signs of weakening of bears

Н4: lower local support at 1.5133 (Lower Bollinger Band)

Signs of weakening of bears

Н1: rather well expressed bullish convergence of oscillator - a sign of weakening of sellers. Range of envelopes - 1.5213-1.5285

Signs of weakening of bears

Expectations: 1) The main scenario - ascending flat 1.5213-1.5285. 2) Alternative scenario - decline to 1.5133 and bounce up towards 1.5285

solutions: We buy from one of the supports as soon as we receive confirming Buy signals.

Aleksey Panasenko
FreshForex Analyst
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