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Potential bottom is around 1.4116

20 January 2016, GBP/USD

Daily chart: extreme movement of the ligament ADX/RSI continues, which signals about approach of correction, but we have not received signals of beginning correction yet. The bottom band of Bollinger shows a possible bottom in the area of ​​1.4116.

Potential bottom is around 1.4116

Н4: bullish convergence of oscillator. Support is in the area of ​​1.4116, resistance is at 1.4293

Potential bottom is around 1.4116

Н1: a similar situation.

Potential bottom is around 1.4116

Expectations: So, we wait for fall to 1.4116, and then an upward reversal with the first target 1.4227

Trading solutions: buy from 1.4116 to 1.4227

Aleksey Panasenko
FreshForex Analyst
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