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Looking for the entry points into sales

20 July 2016, GBP/USD

Daily chart: ADX is going through correction, but the impulse is frankly bearish. The best possible entry down is the middle Bollinger band area (1.3407)

Н4: an aggressive trend ADX can also be interpreted in favor of sellers. Resistance is at 1.3268 (middle Bollinger band)

Н1: a better shaped resistance 1.3160 (the middle Bollinger band). Support - 1.3058 (lower band)

The main scenario - touch of 1.3160 ​​and then decline towards 1.3058

The alternative scenario - the higher the correction to 1.3268 and then the downward movement

Solutions: look for the downward entry points to 1.3160 ​​or 1.3268 zone. The goal - 1.3058

Aleksey Panasenko
Analyst of «FreshForex» company
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