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Key support is1.32

Key support is1.32 | 27 June 2016

27 June 2016, GBP/USD

Daily chart: an intense breakout of the lower Bollinger envelope on news suggests further downward prospects. But, given the inactive status of ADX, a rollback to the middle band (1.4383) can happen before.

Н4: local ADX is very active, so despite the gap, the purchases are not considered.

Н1: the pair is sandwiched between 1.3200 and 1.4250. Although the word "grip" can hardly be applied to the 1000-points' range.

The main scenario - touch of 1.3200 followed by a bounce to 1.3739

The alternative scenario - decline to 1.30

Solutions: Sales to 1.32 and 1.30.

Aleksey Panasenko
FreshForex Analyst
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