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Decline to 1.4871, 1.4838

18 December 2015, GBP/USD

Daily chart: bulls have the opportunity to carry correction to the middle Bollinger band (1.5086), but ADX is strong, so bears can carry out a new attack as well as to get new lows.

Decline to 1.4871, 1.4838

Н4: more localized resistance 1.5020 (middle Bollinger band). Support 1.4838 (the bottom band).

Decline to 1.4871, 1.4838

Н1: the level 1.4948 also performs as resistance, envelopes are horizontal, so a new decline to 1.4871 may be (the bottom Bollinger band). At the same time, there is active ADX, so we can not exclude movement of the price under 1.4838.

Decline to 1.4871, 1.4838

Expectations: The main scenario - decline to 1.4871. The alternative scenario - decline to 1.4838

Trading solutions: sale to 1.4871 and 1.4838

Aleksey Panasenko
FreshForex Analyst
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