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Two plans for today

16 June 2016, GBP/USD

Daily chart: the fourth bar in a rown outsile of envelopes, which caused a reversal and start of the upward correction. We assume that correction targets the middle Bollinger band (1.4479)

Н4: better shaped levels of resistance - 1.4207 and 1.4380 (middle and upper Bollinger bands). The general trend - also growth.

Н1: On the local level the pair is consolidated within the upper envelope 1.4163-1.4207. ADX is not sufficient for any breakthrough

Expectations: The main scenario - flat 1.4163-1.4207

The alternative scenario - a break above to 1.4380

Trading solutions: purchase from 1.4163 to 1.4207 and possibly to 1.4380.

Aleksey Panasenko
FreshForex Analyst
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