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A deeper drop

06 July 2016, GBP/USD

Daily chart: pair fully justifies the southern expectations and now the main goal is s drop to the lower Bollinger band (1.2767)

Н4:very active ADX, but the price has already obtained a couple of bars outside the envelopes, so it is possible that finally the price will be in the middle Bollinger band (1.3227)

Н1: local support is at the lower Bollinger band - 1.2939. The middle Bollinger band (where the resistance may be concentrated) - 1.3113.

Expectations: The main scenario - correction to 1.3112 and reaching 1.2939 The alternative scenario - a deeper drop to 1.2767

Trading solutions: selling from 1.3112 to 1.2939

Aleksey Panasenko
FreshForex Analyst
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