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1.2965 is to be finalized

1.2965 is to be finalized | 09 August 2016

09 August 2016, GBP/USD

Daily chart: the pair has almost reached the bottom Bollinger band (1.2965), from where an upward rebound is expected to take place. Thus it is necessary to be careful in trading, because the ADX is rising

Н4: a downward local trend towards support 1.2965 remains here.

Н1: the intermediate support zone 1.3020 (bottom Bollinger band). ADX is in the active zone and is going through correction. We cannot guarantee density of 1.3020 support

Expectations: fall to 1.2965 (possibly after the touch of zone 1.3057)

Solutions: sale to 1.2965 (the best possible area - from 1.3057)

Aleksey Panasenko
FreshForex Analyst
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