29 May 2015, GBP/USD
Daily chart: The pair continues its steady decline in the direction of the bottom Bollinger band (1.5041)
.png "We sell from 1.5305")
Н4: local supprot is 1.5251 (the bottom Bollinger band) and just yet weak ADX. It can lead to a pullback to the middle band (1.5354)
.png "We sell from 1.5305")
Н1: here we see breaktrhough of the bottom envelope and convergence. The middle Bollinger band is based on 1.5305, so we will expect that pullback will take place exactly to this band.
.png "We sell from 1.5305")
Expectations: pullback to 1.5305 and decline with probably a new Low reached - if bear have enough time today.
Trading decisions:
1) We sell from 1.5305.
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