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Consider selling from 1.2579 to 1.2460

Consider selling from 1.2579 to 1.2460 | 30 January 2017

30 January 2017, GBP/USD

Daily chart: there is downside correction towards middle Bollinger band (1.2341). The band is possible starting point of rebouтв towards 1.2646 (upper Bollinger band)

Consider selling from 1.2579 to 1.2460

Н4: intermediate support level is in lower Bollinger band region (1.2460). ADX/RSI is corrective, so this level may be able to stop the pair from further movement and force rollback to 1.2579 (middle Bollinger band)

Consider selling from 1.2579 to 1.2460

Н1: locally we have breakout of lower Bollinger envelope. Considering this set-up one may sell from middle Bollinger band (1.2579). Target is 1.2460

Consider selling from 1.2579 to 1.2460

Expectations: the pair is expected to touch 1.2579 and then decline to 1.2460

Solutions: consider selling from 1.2579 to 1.2460

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