Weakening of buyers | 15 Juli 2016
15 Juli 2016, GBP/USD
Daily chart: the bottom Bollinger band has shifted lower to 1.2300, which may indicate the upcoming end of the bullish movement (around 1.3594)
Н4: ADX is in the active zone, so a rebound from 1.3594 and further breakthrough are equally probable.
Н1: divergence of the oscillator is another sign of weakening of buyers. Local resistance is at 1.3464 (Upper Bollinger Band)
The main scenario - beginning of decline after a touch of 1.3464-1.35. The goals are 1.3357 and 1.3233
The alternative scenario - surge to 1.3594 followed by an abrupt downward reversal.
Solutions: look for Sell signals around 1.3464, 1.35, 1.3594.
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.
