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Weakening of buyers

Weakening of buyers | 15 July 2016

15 July 2016, GBP/USD

Daily chart: the bottom Bollinger band has shifted lower to 1.2300, which may indicate the upcoming end of the bullish movement (around 1.3594)

Weakening of buyers

Н4: ADX is in the active zone, so a rebound from 1.3594 and further breakthrough are equally probable.

Weakening of buyers

Н1: divergence of the oscillator is another sign of weakening of buyers. Local resistance is at 1.3464 (Upper Bollinger Band)

Weakening of buyers

The main scenario - beginning of decline after a touch of 1.3464-1.35. The goals are 1.3357 and 1.3233

The alternative scenario - surge to 1.3594 followed by an abrupt downward reversal.

Solutions: look for Sell signals around 1.3464, 1.35, 1.3594.

Aleksey Panasenko
FreshForex Analyst
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