14 April 2016, GBP/USD
Daily chart: the pair continues flat within the horizontal corridor formed by Bollinger envelopes (1.4015-1.4483). ADX parameters indicate a high probability of an upward rebound from 1.4015.
Н4: active trending bearish pressure from ADX, so support 1.4108 (the bottom Bollinger band) is under exposure. We are waiting for pierce of 1.4015.
Н1: bearish pressure is still present here. But at the same time there is a significant oversoldness. It also anticipates an upward rollback towards 1.4194 (middle Bollinger band).
Expectations: The main scenario - decline to 1.4015 and then intensive correction to 1.4194. The alternative scenario - an upward bounce from 1.4108 targeting 1.4194
Trading solutions: look for purchases in the area 1.4015 with the goal of 1.4194.
Do you have any suggestions to make our website better? Have you noticed an error on the site? Tell us