Key support is1.32 | 27 Juni 2016
27 Juni 2016, GBP/USD
Daily chart: an intense breakout of the lower Bollinger envelope on news suggests further downward prospects. But, given the inactive status of ADX, a rollback to the middle band (1.4383) can happen before.
Н4: local ADX is very active, so despite the gap, the purchases are not considered.
Н1: the pair is sandwiched between 1.3200 and 1.4250. Although the word "grip" can hardly be applied to the 1000-points' range.
The main scenario - touch of 1.3200 followed by a bounce to 1.3739
The alternative scenario - decline to 1.30
Solutions: Sales to 1.32 and 1.30.
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.
