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Rising flat

Rising flat | 24 December 2015

24 December 2015, GBP/USD

Daily chart: very active ADX on the background of the received IB and a continued fall of the bottom Bollinger band. This means that for market it is simpler to continue downtrend, than to implement a reversal scenario. However, support zone 1.4810 is strong and an upward rebound from it followed by correction is possible.

Rising flat

Н4: accumulation within the flat 1.4819-1.4935

Rising flat

Н1: intraday support 1.4860, resistance - 1.49 (upper Bollinger band).

Rising flat

Expectations:

The main scenario - flat 1.4860-1.4900

The alternative scenario - decline to 1.48

Trading solutions: 1) Buy from the area of ​​1.48 2) Sales from the area 1.49

Aleksey Panasenko
FreshForex Analyst
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