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1.4519 is to be reached

25 May 2016, GBP/USD

Daily chart: the pair has actively approached the upper Bollinger band (1.4692), however, we re-state an absolute lack of interest from ADX, so the basic expectation will be a drop in the direction of the middle band (1.4519)

Н4: we also see a trend ADX in the correction step. This may be enough to finalize zones 1.4519 and 1.4442 (middle and bottom Bollinger bands, respectively)

Н1: we do not expect the pair lower than 1.4519, cause there is a very strong dynamic support from the ascending bottom Bollinger band).

Expectations: decline towards 1.4519 and an upward bounce to 1.4595

Trading solutions: 1. Sales to 1.4519. 2. Buy from 1.4519 is possible after formation of the local Long-signals

Aleksey Panasenko
FreshForex Analyst
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