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Looking for buying options around 1.41

17 June 2016, GBP/USD

Daily chart: Bears have moved the Low down very well. Nevertheless, the number of bars outside of the envelopes do not allow us relying on a continued drop. Therefore, we are waiting for the start of correction to the middle band band (1.4468)

Н4: consolidation within Bollinger envelopes (1.4095-1.4249). Perhaps, another drop to 1.4095, from where it makes sense to buy to 1.4468 in the medium run.

Н1: we confirm a probable decline to ​​1.4072-1.4095, where a bullish pattern Over&Under may be formed.

Expectations: decline towards 1.4095 and then surge to 1.4249 (with a view to further growth next week to 1.4468)

Trading solutions: purchase from 1.4095 to 1.4249

Aleksey Panasenko
FreshForex Analyst
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