Log in

A downward reversal from 1.3177

01 September 2016, GBP/USD

Daily chart: the pair continues to stay within the range 1.2895-1.3306 (Bollinger envelopes). ADX is very weak and is going through correction, so there is no reason for this trend to be changed.

Н4: a better shaped resistance 1.3177 (upper Bollinger band), support - 1.3043 (bottom band). ADX also indicates lack of trend capacity for today.

Н1: resistance area 1.3158 - 1.3177, where buyers are moving on growing but not trend ADX. It may enable a downward correction to the middle Bollinger band (1.3112)

Expectations: now we are waiting for growth to 1.3158 - 1.3177, and then a downward correction towards 1.3112

Solutions: sales from 1.3177 to 1.3112

Aleksey Panasenko
Analyst of «FreshForex» company
See also:
Agree with the review?
Traders' opinion:

Do you have any suggestions to make our website better? Have you noticed an error on the site? Tell us

Tell us

Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with rendering Personal area. How to enable cookie support.