Decline will continue | 05 May 2016
05 May 2016, GBP/USD
Daily chart: apparently, the pair aims to hit the middle Bollinger band (1.4366). So far, there are no visual or indicator signs that bears will not cope with this task
Н4: it is a southern pressure, but without much zeal from ADX. Interim support is at 1.4430 (the bottom Bollinger band).
Н1: Н1 has a horizontal flat corridor 1.4476-1.4524. In view of corrective ADX this scenario will work.
Expectations: The main scenario - flat 1.4476-1.4524
The alternative scenario - drop to 1.4430 and maybe toward 1.4366
Trading solutions: sale from 1.4524 to 1.4430 and 1.4366
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.
