A downward reversal | 25 أغسطس 2016
25 أغسطس 2016, GBP/USD
Daily chart: the pair is aimed toward the upper Bollinger band (1.3361), from where it is expected to bounce down. Although ADX is very close to the active trend zone, which may be interpreted in favor of buyers who may try to get beyond the top envelope.
Н4: a well expressed bearish divergence oscillator, but active ADX anticipates a downward reversal. Two resistance lines on the way of bulls - 1.3277 and 1.3361.
Н1: dense resistance 1.3277 and weak ADX. Support is at 1.3218
The main scenario - touch of 1.3277 and a downward reversal to 1.3218
The alternative scenario - surge to 1.3361
solutions: Looking for downward entry points around 1.3277 and 1.3361.
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.
