We expect the price to reach support 1.3807 and correction upward
25 February 2016, GBP/USD
Daily chart: bears pressure is remained but we should pay attention to bulls convergence oscillator. The third bar is outside Bollinger Envelopes that is a strong condition for north correction.
Н4: both observed indicators are in extreme zone, support is from bottom Bollinger line 1.3807, price can bounce upward to 1.3927 or 1.4073.
Н1: south grip into range of Bollinger Envelopes remains but we are expecting bounce from support of H4 chart.
Expectation: decrease to 1.3807 and then rise to 1.3927
1. sell to 1.3810
2. buy from 1.3807 to 1.3927
Aleksey PanasenkoAnalyst of «FreshForex» company
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