Short-range 1.5159-1.5220 as a preparation for a new phase of decline | 29 سبتمبر 2015
29 سبتمبر 2015, GBP/USD
The daily chart: bearish inside bar on the background of active trend ADX - is a sound application for a further medium-term decline of the pound. Break under the support 1.5095 (Lower Bollinger Band) initiates this movement and may take a while.
.png "range 1.5159-1.5220 as a preparation for a new phase of decline")
Н4: Here, in its turn, is very weak ADX, so, apparently, there will be a pullback up to support 1.5159 (Lower Bollinger Band) in the direction of the middle band (1.5220)
.png "range 1.5159-1.5220 as a preparation for a new phase of decline")
Н1: a strange combination of a completely passive envelopes and active ADX. Perhaps, we will see a breakdown of the bottom envelope, and return to the middle band (1.5193), and then begin of a new attack of the support 1.5159.
.png "range 1.5159-1.5220 as a preparation for a new phase of decline")
Expectations: Trading within the range 1.5159-1.5220 and then decline under 1.5159
solutions: sell on a pullback in the zone 1.5220 to 1.5159 and 1.51
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
