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Preparation for further decline

22 December 2015, GBP/USD

Daily chart: very active ADX continues to press, which happens in the current phase of accumulation. The pair definitely ready to collapse.

Preparation for further decline

Н4: local support 1.4845, weak ADX, so we expect trading within the range of the bottom envelope (1.4845-1.4926)

Preparation for further decline

Н1: flat status of all indicators, so we are waiting for delay of the drop scenario for some time. The corridor of the flat is 1.4872-1.4926

Preparation for further decline

Expectations: flat 1.4872-1.4926

Trading solutions: trading within the range 1.4872-1.4926. Sales are safer than purchases.

Aleksey Panasenko
FreshForex Analyst
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