New Lows can be reached | 13 اكتوبر 2016
13 اكتوبر 2016, GBP/USD
Daily chart: yesterday an unexpected inside bullish bar could be a buy signal, but this setup was in the inappropriate spot. In addition, Bollinger envelopes openly suggest bearish potential.
Н4: local support is at the lower Bollinger band (1.2118), and it may for some time keep the bearish front, because ADX is corrected.
Н1: local accumulation has trend characteristics, so we expect downward movement.
The main scenario - decline to 1.2000.
The alternative scenario - touch of 1.2118 and then an upward rollback towards 1.2248
Trading solutions: sales to 1.20
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.
