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.
Н4: more localized resistance 1.5020 (middle Bollinger band). Support 1.4838 (the bottom band).
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.
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 PanasenkoAnalyst of «FreshForex» company
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