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Sell to 1.4054 and buy "British" back

06 April 2016, GBP/USD

Daily chart: the pair continues to stay within the flat range inside the Bollinger envelope (1.4054-1.4483). In this case, so far we have very weak ADX parameters, so we are waiting when bottom wall of the channel is reached, which will be followed by an upward bounce.

Sell to 1.4054  and buy "British" back

Н4: Support 1.3054 looks technically very attractive for purchases and magnets the price on the background of reversal activity of ADX. We are waiting for finalization of 1.4054 and rebound.

Sell to 1.4054  and buy "British" back

Н1: similar conclusions. No place for purchases, bears reserve their potential. But at 1.4054 demand in the pound will be definitely present.

Sell to 1.4054  and buy "British" back

Expectations: now we are waiting for drop to 1.4054 and then an upward bounce towards 1.4160

Trading solutions: 1. Sales to 1.4054 2. Buy from 1.4054 to 1.4160

Aleksey Panasenko
FreshForex Analyst
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