Potential zone of supply on the pair - 1.4640
08 February 2016, GBP/USD
Daily chart: the resistance is at 1.4640 (Upper Bollinger Band). The mid-term pullback to the area of the middle Bollinger band (1.4372) is possible
Н4: we confirm resistance at 1.4640, where we can viewed bearish Over&Under as well. Support is at 1.4397 (the bottom band plus round level).
Н1: local resistance is at 1.4542 (upper Bollinger band). If it is broken, the way to 1.4640 will be open.
Expectations: The main scenario scenario - a breakthrough of resistance 1.4542 and rising to the 1.4640
The alternative scenario - failure to break 1.4542 and then a pullback to 1.4503
Trading solutions: buy from 1.4503 area to 1.4640 (target may prove to be unachievable for one day).
Aleksey PanasenkoAnalyst of «FreshForex» company
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