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
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.