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Sales to 107.02

18 April 2016, GBP/USD

Daily chart: Bears predictably seized the initiative and stopped correction of buyers. With such a well-expressed momentum, it should not be difficult for sellers to reach the bottom Bollinger band (107.02), which, moreover, is the psychological level.

Н4: we also have a bearish pressure from ADX, so we expect a continued downward movement.

Н1:signs of a local oversoldness, but ADX in the active trend zone, so is unlikely that the bottom will be touched at support 107.65 (the bottom Bollinger band).

Trading solutions: sale to 107.02

Aleksey Panasenko
FreshForex Analyst
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