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40 points' flat

18 November 2015, GBP/USD

Daily chart: yesterday, against bullish convergence, as we see, buyers fought off sellers very well. Now, there are prerequisites for the further upward reversal of the pair.

Н4: Passive ADX and the narrow range of the Bollinger envelopes - the pair can have a break in flat, 1.5179-1.5238

Н1: strong resistance area 1.5232-1.5238. Against not enough active ADX, this area looks irresistible.

Expectations: touch of zone 1.5238 and roll back down to 1.5198.

solutions: 40-point flat range does not allow to trade, but it seems that purchase will be safer than sales from the top. So, we are waiting when the pair reaches the area of ​​1.5198 and buy on long-signals

Aleksey Panasenko
Analyst of «FreshForex» company
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