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Let's indicate the area for possible sales today

Let's indicate the area for possible sales today | 22 April 2016

22 April 2016, GBP/USD

Daily chart: very weak ADX parameters convey the buyers' inability to break above the upper Bollinger band (1.4441). We expect a downward roll back and short signals on younger frames, allowing to open sale orders today .

Н4: the pair is clamped within the corridor 1.4274-1.4423. resistance 1.4423-1.4441 looks suitable for sales (or, again, to search Sell signals, if you do not trade aggressively from the levels).

Н1: a horizontal corridor within the Bollinger envelopes (1.4291-1.4396). We are confused with enhanced ADX activity and it is unclear what forces can we refer this activity to.

Expectations: The main scenario - flat 1.4291-1.4396

The alternative scenario - growth to 1.4423-1.4441 and then a downward roll back towards 1.4291

Trading solutions: under one of the scenarios, we should be looking for downward signals to 1.4396 and 1.4423-1.4441

Aleksey Panasenko
FreshForex Analyst
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