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Decline that may be delayed for one day

Decline that may be delayed for one day | 08 December 2015

08 December 2015, GBP/USD

Daily chart: Southern trend is still relevant. We expect a continued decline towards 1.4973 (the bottom Bollinger band).

Decline that may be delayed for one day

Н4: very active ADX, so support from the middle Bollinger band (1.5051) looks doomed. And, as we see, the real goal is 1.4908

Decline that may be delayed for one day

Н1:for more one day the pair can "lie" in the flat in the range of the bottom envelope (1.5038-1.5075)

Decline that may be delayed for one day

Expectations: The main scenario - flat 1.5038-1.5075. The alternative scenario - decline to 1.4908.

Trading solutions: sale to 1.4908, the target can be reached the next day

Aleksey Panasenko
FreshForex Analyst
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