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Area for 250-points' upward entry

Area for 250-points' upward entry | 29 March 2016

29 March 2016, GBP/USD

Daily chart: pair is openly focused on the upper Bollinger band (1.4501), but we can not forget neither a flat status of ADX nor horizontal (ie telling about the flat status as well) Bollinger envelopes. Therefore, the price may be "capricious", avoiding walking impulse paths directly.

Н4: on the other hand, we have an active trend bullish to ADX, that allows buyers to rely on growth towards 1.4450 and 1.4501 .

Н1: also an active ADX status (which again is a bullish indicator), but the pair is in the middle of the Bollinger envelope, which can lower the price correction to the middle band (1.4200). Considering that it is also "round" level, this area is attractive for purchases.

Expectations: So, in general, we are waiting for growth to 1.4450, but we can not exclude the possibility of pre-touch of 1.42 zone

Trading solutions: we expect a touch of 1.42 and 1.4450 to buy

Aleksey Panasenko
FreshForex Analyst
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