Zone of possible supply on the Pound is 1.408 | 24 فبراير 2016
24 فبراير 2016, GBP/USD
Daily chart: ADX is active and bottom Envelope is being broken through. Pair is going to go under 1.40, but uprising correction line is possible in direction of middle Bollinger line (1.4366) according to the rules of working off such setups.
Н4: ADX is also very active and Envelopes are expanded. We are waiting support breakthrough in 1.3994.
Н1: local bulls oscillator convergence is allow to consider on turn back to middle Bollinger line (1.4086), we can sell from this level.
Expectation: upward correction to 1.4086 and then decrease to 1.3950
Trading decisions: sell from 1.4086 to 1.3950
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.
