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Can we take 250 bulls pips on Monday?

14 March 2016, GBP/USD

Daily chart: we can see long-term possibility on 1400 pips of potential rising. We are looking for trend ADX, probably it will be broken through upper Bollinger line (1.4567), then upper envelope. As a result, it will be very strong bullish pattern Over&Under with buying zone from 1.41 (look at the red pointer). From this level it will be possible to buy to 1.55.

 Can we take 250 bulls pips on Monday?

Н4: upper Bollinger envelope has locally broken through and forming further inside bar is possible. We are expecting pullback to middle line (1.4248), from this level we buy because of expectation of daily envelope (look at comments by daily chart).

 Can we take 250 bulls pips on Monday?

Н1: local support is located above 1.4315 (middle Bollinger line).

 Can we take 250 bulls pips on Monday?

Expectation: pullback to 1.4315 and then rise to 1.4567.

Trading decisions: buy from 1.4315 to 1.4567

Aleksey Panasenko
FreshForex Analyst
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