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Looking for upward entry points on a pullback

05 April 2016, GBP/USD

Daily chart: ADX is not active, so the pair is likely to continue stay within corridor inside Bollinger envelopes (1.4072-1.4472)

Н4: a more localized within the range of the bottom Bollinger envelope (1.4183-1.4314)

Н1: the intermediate local support by the middle Bollinger band (1.4249) can stop bears, but still it better to be based on a potential touch of the bottom Bollinger band (1.4183)

Expectations: decline towards 1.4249 and then probably to 1.4183, after that the pair will get a boost up to 1.4314 (the scenario is likely to be implemented the next day)

Trading solutions: we should be looking for buy signals around 1.4249 and 1.4183 targeting 1.4314

Aleksey Panasenko
Analyst of «FreshForex» company
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