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Looking for sale points

17 May 2016, GBP/USD

Daily chart: weak parameters of ADX allow bears to work a full pattern in the direction of the lower Bollinger band (1.4210). The price may also pull back in the area to ​​the middle band (1.4454)

Н4: On the local level, the pair is clamped within the lower Bollinger envelope (1.4334-1.4411)

Н1: because of insufficient parameters of ADX we can confirmed a local resistance 1.4415 (upper Bollinger band), which probably will make the pair move down to 1.4373 (middle band).

Expectations: The main scenario - flat 1.4373-1.4415

The alternative scenario - surge to 1.4454

Trading solutions: look for sales around 1.4415 or 1.4454 targeting 1.4373

Aleksey Panasenko
Analyst of «FreshForex» company
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