Pound. We are looking for new entries down

26 October 2016, GBP/USD

Daily chart: this pair continues lowering in the direction of the lower Bollinger band (1.1858), while the resistance of the middle band is reduced (now this dynamic supply level is at 1.2495, from this level you had better consider the possible sell positions).


H4: ADX is very active, so you can expect one of two scenarios: either the bears will include full revolving, not later than after touching the upper Bollinger band (1.2272) or bulls will take advantage of the situation and correct the price to 1.2495. Of course, you had better wait for the trend scenario (not reversal).


H1: the resistance is localized in the area of 1.2200 (middle Bollinger band), support - 1.2134 (lower band).



The main scenario - decline to 1.2134 (after touching 1.2200 zone)

Alternative scenario - growth to 1.2268-1.2272 (with a break above 1.2200)

Trading solutions: selling to 1.2134 (after the formation of short signals in the 1.2200 area)

Aleksey Panasenko
FreshForex Analyst
See also:
Agree with the review?
Traders' opinion:
Log in
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 .
© 2004—2018 FreshForex – Forex broker
manager photo
Ask a question
We will be pleased to answer any questions you may have
Write Call