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Premarket on the Pound. What we can expect on Monday

12 October 2015, GBP/USD

The daily chart: we note bullish convergence of oscillator, so we can assume that the pound will generally reverse up. This pair is now in a difficult resistance zone (middle Bollinger band, 1.5304), which could make it roll back down again into zone 1.52.

Premarket on the Pound. What we can expect on Monday

Н4: we confirm previous findings - everything will decide reaction of the price to the support 1.5304.

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

Н1: also equally probable scenarios, because pressure on the support of 1.5304 occurs on the weak ADX. Goals down - 1.5254 and 1.5178, above - 1.5383.

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

Expectations: on rebound from 1.5304 - we're waiting for growth to 1.5383, with a break below 1.5304 - decline to 1.5254 and 1.5178.

solutions: 1) We buy from the 1.5304 to 1.5383. 2) We sell under 1.5304 to 1.5254 and 1.5178

Aleksey Panasenko
FreshForex Analyst
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