Ascending flat | 22 June 2016

22 June 2016, GBP/USD

Daily chart: the upper Bollinger band (1.4811) has been almost finalized, whereupon the downward phase of the movement has predictably started. So, now we expect correction to the middle band (1.4474)

Н4: here, on the contrary, the upper Bollinger band is higher, at 1.4892, therefore, we should account for its possible reach. Support is at 1.4474.

Н1: At the local level, the pair has entered into a horizontal non-directional corridor 1.4617-1.4754 and theoretically, can cross it within a day. ADX indicators also suggest a high probability of such a scenario.

The main scenario - flat 1.4617-1.4754

The alternative scenario - rise to 1.4892

Solutions: buy from 1.4617 to 1.4754 and possibly 1.4892.


The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
Aleksey Panasenko
FreshForex Analyst
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