Bearish pressure remains | 07 Juli 2016
07 Juli 2016, GBP/USD
Daily chart: ADX is not in the trend zone, but is growing rapidly. This allows bears rely on finalization of the lower Bollinger band (1.2742). We'll see at the younger charts, how high can a pre-correction be.
Н4: the pair is heavily oversold here, but ADX is very active as well, so we expect continuation of downward.
Н1: local ADX is weak and a flat omni-directional corridor within Bollinger envelopes (1.2871-1.2986)
The main scenario - consolidation around 1.2871-1.2986
The alternative script scenario - decline to 1.2742
Solutions: looking for Sell options to 1.2871 and possibly to 1.2742
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.
