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Decline will continue

05 May 2016, GBP/USD

Daily chart: apparently, the pair aims to hit the middle Bollinger band (1.4366). So far, there are no visual or indicator signs that bears will not cope with this task

Decline will continue

Н4: it is a southern pressure, but without much zeal from ADX. Interim support is at 1.4430 (the bottom Bollinger band).

Decline will continue

Н1: Н1 has a horizontal flat corridor 1.4476-1.4524. In view of corrective ADX this scenario will work.

Decline will continue

Expectations: The main scenario - flat 1.4476-1.4524

The alternative scenario - drop to 1.4430 and maybe toward 1.4366

Trading solutions: sale from 1.4524 to 1.4430 and 1.4366

Aleksey Panasenko
FreshForex Analyst
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