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Sales to 1.42

01 April 2016, GBP/USD

Daily chart: Meanwhile the price stays within horizontal corridor inside the Bollinger envelope (1.4065-1.4481). The medium-term northern preparation is seen here (as confirmed by the tightening bottom Bollinger band).

Н4: It seems that on the local level upward movement will get corrected to 1.4206 (the bottom Bollinger band, plus a round level).

Н1: Meanwhile Bollinger envelopes retain a horizontal determination, but ADX looks down. We should sell ​​on a pullback to the middle Bollinger band (1.4365).

Expectations: and now, we are waiting for breakthrough of the H1-bottom Bollinger envelope (in the form of drop to 1.43), and then roll back to 1.4365 followed by major decline to 1.42 .

Trading solutions: sales from 1.4365 to 1.42

Aleksey Panasenko
Analyst of «FreshForex» company
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