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200 points' range for extreme traders

03 June 2016, GBP/USD

Daily chart: from technical point of view, the price will continue decline to 1.4303 (the lower Bollinger band). But today anything can happen. Resistance is at the middle Bollinger band (1.4504)

200 points' range for extreme traders

Н4: we confirm resistance 1.4504 and support 1.4303. A rare unity of two frames in terms of levels.

200 points' range for extreme traders

Н1: horizontal corridor 1.4393-1.4453 is likely to anticipate news. We will not rely on wall of this range .

200 points' range for extreme traders

Expectations: now, we are waiting for impulse between 1.4303 and 1.4504. 200 points' range look tempting, but the question for traders is where to set a stop-loss.

Trading solutions: do not trade, or try strength of walls of the corridor 1.4303-1.4504.

Aleksey Panasenko
FreshForex Analyst
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