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Analyze of today's Apocalypse

07 October 2016, GBP/USD

Daily chart: What happened today was not entirely unexpected - Southern accumulation of potential was well-expressed and strong. The surprise is only about the depth. I would like to congratulate bears, who were expecting profit by the New Year, but got it earlier this morning.

Analyze of today's Apocalypse

Н4: a rollback bullish inside bar can get the pair corrected to the middle Bollinger band (1.2691), from where the price will continue to decline, warmed by NPF.

Analyze of today's Apocalypse

Н1: a big gap between resistance lines - 1.2564 and 1.2691. This will make search for downward entry points a very nervous activity. So today you may take a rest and observe what is happening from the side.

Analyze of today's Apocalypse

The main scenario - a rollback to 1.2691, then new decline to 1.23

The alternative scenario - a less steep pullback (to 1.2564) and then workout of a new drop to 1.23 and below .

Trading solutions: looking for downward entry points to 1.2564 and 1.2691.

Aleksey Panasenko
Analyst of «FreshForex» company
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