01 July 2016, GBP/USD
Daily chart: the pair noticeably prevails to a further reduction in the area of the lower Bollinger band (1.3143). Bulls could not even lift the yesterday's High.
Н4: a horizontal omnidirectional corridor within a very wide range of envelopes Bollinger - 1.3170-1.3516. ADX is very weak, so it is probable that support 1.3170 will sustain.
Н1: We confirm strong support area 1.3170-1.3216. Resistance is at the middle Bollinger band (1.3394), where the "round" psychological level can also be noticed.
Expectations: decline to 1.3170-1.3216 and then a rebound towards 1.3394
Solutions: 1. Sales to 1.3170-1.3216 2. Buy from 1.3170-1.3216. The goal may be at 1.3394, but I suggest not being greedy, because we have a frankly bearish trend.
We are constantly improving our website quality. If you have any suggestions on how to make our website better or noticed an error on the website, please tell us