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Range of the day: 1.3300 - 1.3367

08 September 2016, GBP/USD

Daily chart: Day was closed by the bearish inside bar, but hard to say whether it will give a full sell signal. ADX is very active, which means that the main trend continues to the Southern. Moreover, in such a scenario, correction to the middle Bollinger band (1.3151) seems to be quite appropriate. We will try to evaluate at smaller charts, how safe an attempt to take these 200 points down can be.

Range of the day: 1.3300 - 1.3367

Н4: Bottom Bollinger band (1.3261) serves as a strong enough support. In this case bear attacks are not observed.

Range of the day: 1.3300 - 1.3367

Н1: local intermediate support 1.3300 (the bottom Bollinger band), resistance - 1.3367 (middle band). ADX is weak, therefore, probably the price will spend the day within the bottom envelope (1.3300-1.3367)

Range of the day: 1.3300 - 1.3367

The main scenario - flat 1.3300-1.3367

The alternative scenario - fall to 1.3261

Trading solutions: sales from 1.3367 to 1.3300 and possibly to 1.3261.

Aleksey Panasenko
FreshForex Analyst
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