Looking for downward entry points | 18 Juli 2016
18 Juli 2016, GBP/USD
Daily chart: the bottom Bollinger band has moved to 1.2246, where at the moment the relevant goal of sellers is based. However, the goal is medium-term: ADX is passive, so it is unlikely that bears will be able to finalize the above-mentioned level (more than 1000 points) in one week
Н4: a horizontal corridor within the Bollinger envelopes (1.3089-1.3446)
Н1: a better shaped corridor 1.3123-1.3314. ADX is very close to the attacking zone, so we do not consider purchases at all.
The main scenario - drop from current levels towards 1.3089
The alternative scenario - touch of zone 1.3264-1.3314 and decline towards 1.3089
Trading solutions: looking for downward entry points to 1.3089
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.
