The medium-term 600 points' drop | 12 July 2016
12 July 2016, GBP/USD
Daily chart: the pair is in the middle of the bottom range of envelopes, which complicates search for the best Sell entry points (in terms of stops). The lower Bollinger band fell by more than 100 points, so bears have excellent chances.
Н4: a horizontal consolidation within Bollinger envelopes (1.2895-1.3019)
Н1: we confirm a flat corridor 1.2895-1.3019
Expectations: a descending flat 1.2895-1.3019
Solutions: sell to 1.2895 (1.2339 in the medium-term).
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.
