Resistance 1.5575, support 1.5385 | 27 August 2015
27 August 2015, GBP/USD
The daily chart: the price has reached the lower Bollinger band (1.5456) -a traditionally strong support when we have horizontal envelopes. Therefore, a roll up very likely to happen.
.png "Resistance 1.5575, support 1.5385")
Н4: we can consider bullish O & U, plus three bars outside the envelope, which also tells about the northern determination. A possible goal of correction - the area of the middle Bollinger band (1.5680).
.png "Resistance 1.5575, support 1.5385")
Н1: is much more localized resistance at 1.5575, plus unfinished lower Bollinger band (1.5385)
.png "Resistance 1.5575, support 1.5385")
Expectations: 1) Rollback to 1.5575 and then falling to 1.5385.
Trading solutions:
1) Sales from 1.5575 to 1.5385
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.
