15 June 2016, GBP/USD
Daily chart: the fourth (forming) bar outside the Bollinger envelope anticipates an upward reversal as the price is nearing a strong pivot 1.4085.
Н4: the bottom Bollinger band is much lower - 1.4014, so the area of potential reversal is exactly here.
Н1: certain consolidation within the bottom Bollinger envelope (1.4085-1.4154) can be misleading, because ADX is in the active area of trend.
Expectations: The main scenario: decline to 1.4014 and then an upward bounce
The alternative scenario - flat 1.4085-1.4154
Trading solutions: 1. Sell to 1.4014
2 Around 1.4014 we will monitor possible upward signals.
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