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Expect fall to 1.5372

Expect fall to 1.5372 | 16 October 2015

16 October 2015, GBP/USD

The daily chart: Bollinger envelopes remain horizontal direction, plus we can see that rush of bulls does not support ADX. Therefore, we can see correction around ​​the middle band (1.5307). This is still a relevant goal - 1.5597 (Upper Bollinger Band)

Н4: more localized support in the area of ​​1.5376 is able to send the pair up to test zone 1.5553 (Upper Bollinger band) once again.

Н1: here we see that everything is not so bad the North - cool and clear divergence of oscillator on all attempts of buyers to put the price higher. There is support in the area of ​​1.5433 (Lower Bollinger Band), but it probably will not stand.

Expectations: So, we wait for fall to 1.5372, from where a rebound up is possible.

solutions: 1) Sales to 1.5372. 2) In the area of ​​1.5372, it makes sense to look for possible buy signals

Aleksey Panasenko
FreshForex Analyst
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