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We expect a 100 points' drop from 1.4319

13 April 2016, GBP/USD

Daily chart: the pair is in a stable flat inside horizontally oriented Bollinger envelopes (1.4015-1.4483). ADX is weak and going through correction, so on touch of the upper wall (1.4483) we can safely sell.

We expect a 100 points' drop from 1.4319

Н4: a more localized resistance around 1.4319 (upper Bollinger band). Support is at the middle Bollinger band (1.4163).

We expect a 100 points' drop from 1.4319

Н1: a more localized flat range 1.4200-1.4319 allows to rely on 100 points of profit on opening short positions. The best strategy is to wait for confirming signals on younger timeframes around 1.4319.

We expect a 100 points' drop from 1.4319

Expectations: Now we wait for touch of zone 1.4319 and then decline towards 1.4200

Trading solutions: sell from 1.4319 to 1.42

Aleksey Panasenko
FreshForex Analyst
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