A new phase of bulls is probably starting | 03 June 2015
03 June 2015, GBP/USD
Daily chart: Bears have not worked through support from the bottom Bollinger band (1.5050). However, bulls have showed a strong momentum by lifting up the last High. Therefore, a main expectation now is growth to 1.5806.
.png "A new phase of bulls is probably starting")
Н4: ADX is active, so, a possible turbulence in the area 1.5471 (the middle Bollinger band) can open a way even to 1.5806. Of course, this is not a one-day plan.
.png "A new phase of bulls is probably starting")
Н1: The pair shows that it is overbought. It gives a chance to enter purchases on a possible rolldown (1.5325, 1.5280)
.png "A new phase of bulls is probably starting")
Expectations: so, we are waiting for growth to 1.5471. Possible pullbacks may take place to 1.5325 and 1.5280 - at these point there is a sense to buy pound.
Trading decisions:
1) We keep sales open to 1.5471 and 1.5806 (in the middle run)
2) We shall buy new purchases in case of a new rolldown to 1.5325 and 1.5280, where you need to look for confirming signals.
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.
