manager photo
Ask a question
We will be pleased to answer any questions you may have
Write Call
Log in

New Lows can be reached

13 October 2016, GBP/USD

Daily chart: yesterday an unexpected inside bullish bar could be a buy signal, but this setup was in the inappropriate spot. In addition, Bollinger envelopes openly suggest bearish potential.

Н4: local support is at the lower Bollinger band (1.2118), and it may for some time keep the bearish front, because ADX is corrected.

Н1: local accumulation has trend characteristics, so we expect downward movement.

The main scenario - decline to 1.2000.

The alternative scenario - touch of 1.2118 and then an upward rollback towards 1.2248

Trading solutions: sales to 1.20

Aleksey Panasenko
FreshForex Analyst
See also:
Agree with the review?
Traders' opinion:
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .