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The 43rd figure may be hit by impulse

19 April 2016, GBP/USD

Daily chart: flat status of ADX, the pair continues to be the medium-term horizontal corridor 1.4015-1.4436

Н4: the upper Bollinger envelope is broken, which is a signal to buy. However, it should be recognized as unreliable because of the flat state of envelopes and ADX. So expect a drop at least to the middle Bollinger band (1.4188)

Н1: here, on the contrary, there is an aggressive bullish ADX. But there is a strong oversoldness and resistance area 1.4294-1.4300. Any bearish scenario will be considered only after formation of strong downward signals, because the price can prick the upper levels up to 1.4360.


Expectations: The main scenario - upward impulses to 1.4325-1.4360 and then decline towards 1.4204

The alternative scenario - a decline from 1.43 to 1.4204

Trading solutions: we are looking for sales opportunities after we get short signals around 1.43 and 1.4360. The goal is 1.4204.

Aleksey Panasenko
FreshForex Analyst
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