Northern dynamics, but with a strong resistance based at 1.5817 | 24 June 2015
24 June 2015, GBP/USD
Daily chart: The price has preserved potential of growth to the upper Bollinger band (1.5950), though the pair is based in the middle of the envelope range and that makes a correction to the middle line (1.5514) possible.
.png "Northern dynamics, but with a strong resistance based at 1.5817")
Н4: strong local resistance in the middle Bollinger band (1.5817), from where a decline to 1.5703 can take place.
.png "Northern dynamics, but with a strong resistance based at 1.5817")
Н1: the price has broken the upper Bollinger envelope and ADX parameters are strong, which makes growth scenario more probable.
.png "Northern dynamics, but with a strong resistance based at 1.5817")
Expectations: growth to 1.5817 and, in case of the upper breakthrough, to 1.5850, with the middle-term target for 100 points above to 1.5950.
Trading decisions:
1) Purchases to 1.5817, 1.5850 and 1.5950 are possible.
2) Also decline from 1.5817 down to 1.57 is possible. We shall check the level if it gives any short 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.
