Premarket view on the pound. What we can expect on Monday

21 December 2015, GBP/USD

Daily chart: strong ADX trend signalizes about a further decline to new Lows.

Premarket view on the pound. What we can expect on Monday

Н4: locally weak ADX, so trading within the bottom Bollinger envelope (1.4838-1.4982) is possible.

Premarket view on the pound. What we can expect on Monday

Н1: flat state ADX and horizontal envelopes. The corridor 1.4882-1.4943

Premarket view on the pound. What we can expect on Monday

Expectations: So, with equal probability flat 1.4882-1.4943 and movement to new lows are possible. Therefore, we consider sale from the area 1.4943.

Trading solutions: sale of the 1.4943 zone from the 1.4882 and below (extraday)

Aleksey Panasenko
FreshForex Analyst
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