We expect more than 100 points' correction up
24 November 2015, GBP/USD
Daily chart: Massive bullish convergence oscillator talks about easing of the pressure, however, we see that the pair is clamped in the range and drop to the zone of the bottom Bollinger band (1.5035) is still possible. From there, with a great probability the pair will go to 1.5240.
Н4: local support from the "round" level 1.5102 is able to send the pair for a few more than 100 p. up (to the middle Bollinger band, 1.5213. See the red arrow). But we also have to keep in mind a probability of finalization of 1.5035 (blue arrow).
Н1: also the convergence of the oscillator, so the basic expectation is a rebound from 1.5102. Local resistance 1.5188 (upper Bollinger band).
Expectations: bounce up from the zone of 1.5102 to 1.5188 and 1.5212.
Solutions: purchase to 1.5088 and 1.5212
Aleksey PanasenkoAnalyst of «FreshForex» company
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