Zone of possible supply on the Pound is 1.408
24 February 2016, GBP/USD
Daily chart: ADX is active and bottom Envelope is being broken through. Pair is going to go under 1.40, but uprising correction line is possible in direction of middle Bollinger line (1.4366) according to the rules of working off such setups.
Н4: ADX is also very active and Envelopes are expanded. We are waiting support breakthrough in 1.3994.
Н1: local bulls oscillator convergence is allow to consider on turn back to middle Bollinger line (1.4086), we can sell from this level.
Expectation: upward correction to 1.4086 and then decrease to 1.3950
Trading decisions: sell from 1.4086 to 1.3950
Aleksey PanasenkoAnalyst of «FreshForex» company
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