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Key levels of support and resistance are 1.3404/1.3543

30 June 2016, GBP/USD

Daily chart: a developing upward correction toward the middle Bollinger band (1.4268), but it is hard to believe in potential of this correction

Н4: clamping within Bollinger envelopes (1.3045-1.3776) on low ADX. The day the pair is expected to rotate around the middle Bollinger band (1.3403)

Н1: weak local ADX, with the support 1.3403 and resistance 1.3543 (middle and upper Bollinger bands).

Key levels of support and resistance are 1.3404/1.3543

The main scenario - decline towards 1.3403 followed by surge to 1.3543

The alternative scenario - touch of 1.3543 and then decline towards 1.3403

Trading solutions: 1. Buy from 1.3403. 2. Sell from 1.3543.

Aleksey Panasenko
FreshForex Analyst
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