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 PanasenkoAnalyst of «FreshForex» company
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