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We expect more than 100 points' correction up

We expect more than 100 points' correction up | 24 November 2015

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.

We expect more than 100 points' correction up

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).

We expect more than 100 points' correction up

Н1: also the convergence of the oscillator, so the basic expectation is a rebound from 1.5102. Local resistance 1.5188 (upper Bollinger band).

We expect more than 100 points' correction up

Expectations: bounce up from the zone of 1.5102 to 1.5188 and 1.5212.

Solutions: purchase to 1.5088 and 1.5212

Aleksey Panasenko
FreshForex Analyst
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