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Active movement at relatively small ranges

Active movement at relatively small ranges | 01 December 2015

01 December 2015, GBP/USD

Daily chart: we see that ADX is furious and with equal probability this activity can be correlated to the two fronts (bullish and bearish). The bottom Bollinger band (1.4961) looks unfinished. Bulls may get interested in the goal 1.5191 (middle Bollinger Band).

Active movement at relatively small ranges

Н4: bullish convergence of oscillator can make correction from the area 1.4994 (bottom Bollinger band).

In the meantime, the pair is fighting resistance 1.5073 (middle Bollinger band), breake of further space will supply bulls with operating space up to 1.5149.

Active movement at relatively small ranges

Н1: Here, in turn, a local rising front is developing. From support 1.5034 bulls may start a new attack to 1.5070. Alas, the range is very small for a safe and promising trade

Active movement at relatively small ranges

Expectations: The main scenario - touch of 1.5034 and bounce up to 1.5070. Then preservation of this range. The alternative scenario - decline to 1.4994 and bounce up from there.

Trading solutions: we consider buying from 1.4994 to 1.5070, as well as signals down (if they are, of course) from resistance of 1.5070

Aleksey Panasenko
FreshForex Analyst
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