Still preparing to reverse downward | 30 ديسمبر 2016
30 ديسمبر 2016, GBP/USD
Daily chart: Bollinger middle band (116.08) predictably acted as supporting, but apparently, this support will fail to create a new full upward wave. A downward reversal is almost a settled thing. The medium-term goal seems to be the lower Bollinger band (112.80)
Н4: a strong local resistance around 117.07 (middle Bollinger band, plus all the psychological level). To release potential of the trend, bears need to break through support 116.08.
Н1: flat 116.22-117.07. Thin market can provide volatile surprises, buttrading inside this range is also a very probable scenario for the coming holidays.
The main scenario - flat 116.22-117.07
The alternative scenario - a breakthrough for support 116.08 and a fall to the 115th figure.
Trading solutions: sales from 117.0
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.
