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Finalization of 1.4089 followed by the upward bounce

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).

Aleksey Panasenko
Analyst of «FreshForex» company
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