manager photo
Online Assistant
We will be pleased to answer any questions you may have
Write Call
Close
Log in

Control resistance level - 1.2265

14 October 2016, GBP/USD

Daily chart: the last day was closed by a second bullish inside bar in a row at high price, which opens the possibility of correction to 1.2801 (middle Bollinger band), but such intense activity of ADX may mean that bears are preparing for a consolidation

Н4: much better shaped level of resistance around ​​the upper Bollinger band (1.2419) gives the potential for a downward bounce.

Н1: another resistance level - 1.2265 (upper Bollinger band and Н4 middle bands are merged). If bulls get above, the way to 1.2419 will open. Support is on the middle band (1.2197)

The main scenario - a break above 1.2265 and start of the movement to 1.2419

The alternative scenario - touch of 1.2265 and a downward rollback to 1.2200

Trading solutions:

1 Buy trades aimed at break of 1.2265 to 1.2419

2. Sales from 1.2265 to 1.2200

Aleksey Panasenko
FreshForex Analyst
See also:
Agree with the review?
Traders' opinion:

We are constantly improving our website quality. If you have any suggestions on how to make our website better or noticed an error on the website, please tell us

Tell us

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 .