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Buyers got weaker

Buyers got weaker | 31 March 2016

31 March 2016, GBP/USD

Daily chart: in spite of northern "clamp" of the bottom Bollinger envelope, we see a lack of interest in from the part of ADX, so the basic expectation is a corrective decline towards the middle band (1.4248)

Н4: weakening of the bullish front in the resistance zone 1.4465 (upper Bollinger band). Support as in the area of ​​1.4248 (middle Bollinger band).

Н1: here we have a fully flat status of all indicators. The range of Bollinger envelopes is 1.4350-1.4437.

Expectations: The main scenario - flat 1.4350-1.4437

The alternative scenario - decline to 1.4248 (consider this situation on breakthrough under the support 1.4350)

Trading solutions: sell from 1.4437 area to the 1.4350 and 1.4248 (extraday)

Aleksey Panasenko
FreshForex Analyst
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