Decline towards 1.5371 is going on | 20 May 2015
20 May 2015, GBP/USD
Daily chart: An intensive correction towards the middle Bollinger band (1.5371) is going on, from where bulls can probably push off.
.png "Decline towards 1.5371 is going on")
Н4: a local bearish pressure allows to expect that support 1.5371 will be reached.
.png "Decline towards 1.5371 is going on")
Н1: One of the options of intraday scenario is a flat within boundaries of enevelope.
.png "Decline towards 1.5371 is going on")
Expectations: so, main expectation: continuation of decline to 1.5371, but it is possible that the pair will spend the whole day in flat 1.5473-1.5533.
Trading decisions:
1) We keep sales open to 1.5371.
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.
