Wait for a rollback from 1.58-1.5845 | 15 May 2015
15 May 2015, GBP/USD
Day chart: upper Bollinger band shows 1.5845, but it is a very strong resistance for such growth. So, we are waiting for decline to 1.5581
.png "Wait for a rollback from 1.58-1.5845")
Н4: there is a divergence oscillator, which proves our forecast about correction. An additional indicator for us is the correlation with the Eurodollar chart.
.png "Wait for a rollback from 1.58-1.5845")
Н1: local resistance at 1.58. Internal support at 1.5744.
.png "Wait for a rollback from 1.58-1.5845")
Expectations: so, a strong rollback is expected from 1.58-1.5845 area to 1.5744
Trading decisions:
1) You are late for buyings, so look for short-signal at 1.5800-1.5841 area.
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.
