1.4632-1.4677 resistance zone, 1.4510 support level
04 February 2016, GBP/USD
Day chart: the pair is situated between Bollinger envelopes, that’s why resistance will be located at upper Bollinger band (1.4677), support level – at middle Bollinger band (1.4372)
H4: more localized support at 1.4418 (middle Bollinger band).
H1: 1.4632-1.4677 resistance area, support levels at 1.4575 and 1.4510.
Expectations: the pair will touch 1.4632-1.4677, and then decrease to 1.4510 zone. Trading solutions: wait for short signals in 1.4632-1.4677 zone and sell to 1.4510.
Aleksey PanasenkoAnalyst of «FreshForex» company
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