06 May 2016, GBP/USD
Daily chart: support area 1.4390 (middle Bollinger band) is waiting for the pair. Without a pressure of today's news background, a further rebound to the upper band (1.4731) would be possible. Will today's fundamental analysis confirm the technical analysis? Let's see.
Н4: the pair is clamped inside the bottom Bollinger envelope (1.4390-1.4543)
Н1: potential is being accumulated to move the price out. So far, it is a corridor 1.4463-1.4502. But of course, this range will not hold the price on Nonfarm release.
Expectations: Drop to 1.4390 and then surge towards 1.4543 and 1.4692.
Trading solutions: those preferring risk can try to buy from 1.4390 to 1.4542 and 1.4692. Conservatives are better to stick to a stricter plan.
We are constantly improving our website quality. If you have any suggestions on how to make our website better or noticed an error on the website, please tell us