30 March 2016, GBP/USD
Daily chart: the pair is likely to reach the zone of the upper Bollinger band (1.4512), but we should continue to wait for the rollback down, because everything happens for non-trending ADX that shows correction
Н4: breakout of the upper Bollinger envelope can enable a roll back down to the middle band ( 1.42), but meanwhile bulls still press. Intermediate resistance is in the 1.4437 area. Perhaps from here the downward correction will start
Н1: exits beyond the top of the envelope - a correctional determination, but we can see that the price is still determined to the upper Bollinger band. You have to be careful if you are practicing a counter-trend trade. It is safer to wait the upward entry points at the bottom (we assume that around 1.4280, the middle Bollinger band).
Expectations: The main scenario - achievement of 1.4437, and then the downward correction around 1.4280 The alternative scenario - drop from current levels towards 1.4280
Trading solutions: 1. Sales of 1.4437 to 1.4280 2. Buy around 1.4280 (target 1.4513, extraday)
We are constantly improving our website quality. If you have any suggestions on how to make our website better or noticed an error on the website, please tell us