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Buy from a downward correction

26 April 2016, GBP/USD

Daily chart: the buyers are attacking, but ADX has not reached the trend value yet, making another corrections towards the middle band (1.4277) probable.

Н4: a local bearish divergence of the oscillator we can also talk about a possible downward pullback around 1.4393 (middle Bollinger band). Probable area for ​​opening Buy trades will be located here.

Н1: a local support is located at the current levels (1.4465). Bulls could try to attack more and right here. But, if the price withdraws to 1.4465, we will have a correction to 1.4393-1.4403.

Expectations: The main scenario - a rollback to 1.4393-1.4403 and then rise to 1.4550

The alternative scenario - surge from current levels of

Trading solutions: we are looking to purchase around 1.4393-1.4403

Aleksey Panasenko
Analyst of «FreshForex» company
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