23 May 2016, GBP/USD
The daily chart: against the backdrop of a weak ADX and rebound from the upper Bollinger band (1.4674)there is no reason that correction towards 1.4316 (lower band) will stop.
Н4: a better shaped strong support zone of 1.4403 (the bottom Bollinger band plus the round psychological level with the potential demand in the British currency). Thus, we expect a rebound
Н1: a very active trend ADX can be interpreted both in favor of bulls and bears. Buyers can act from the middle Bollinger band (1.4554) to 1.4403.
Expectations: we expect a drop to 1.4403 (possibly after pre-touch of 1.4554 zone)
Trading solutions: sell to 1.4403 (the best option - from 1.4554)
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