14 June 2016, GBP/USD
Daily chart: strong support zone 1.4089 retains its potential, but we must admit that ADX is interested in the bearish attack. However, the key parameters are not sufficient for a break below.
Н4: we confirm the possibility of a drop to 1.4089 and below, but the southern potential is limited and, most likely, it will be confirmed by bullish convergence of the oscillator.
Н1:Bollinger envelopes remain a horizontal status, which makes support from the lower band (1.4133) more important. But ADX is rising, so it is better to be based on finalization of H4 levels.
Expectations: The main scenario - decline to 1.4089 followed by the upward bounce. .
The alternative scenario - the inability to break below 1.4133 will lead to a rebound to 1.4204
Trading solutions: 1. Sales to 1.4089
2. Buy around 1.4089 (after we have Long-signals on H1).