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Can buy on correction

19 January 2016, GBP/USD

Daily chart: from the bottom Bollinger band (1.4207) the long-awaited upward correction can begin, as conveyed by dynamics of the oscillator.

Can buy on correction

Н4: growth within the framework of technical correction. Resistance - 1.4332 and 1.4457 (middle and upper Bollinger Band)

Can buy on correction

Н1: The envelopes retain horizontal determination yet, but ADX indicates presence of a local bullish pressure. Support is at 1.4262 (middle Bollinger Band). On break of the upper envelope, we shall buy from the middle Bollinger band with an eye to 1.4332 and 1.4457 (extrday).

Can buy on correction

Expectations: rise to 1.4332 and then a downward roll back to 1.4262 and a new phase of growth.

Trading solutions: buy from 1.4262 to 1.4332 and 1.4457

Aleksey Panasenko
FreshForex Analyst
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