An upward pullback is possible, but NO purchases | 01 October 2015
01 October 2015, GBP/USD
The daily chart: very active ADX, so there are big doubts about strength of the support 1.5051 (Lower Bollinger Band)
.png "An upward pullback is possible, but NO purchases")
Н4: Local support at 1.5118 (Lower Bollinger Band) plus inactive ADX here. Possible correction to the middle band (1.5169)
.png "An upward pullback is possible, but NO purchases")
Н1: a little more localized levels of support and resistance: 1.5108\1.5149
.png "An upward pullback is possible, but NO purchases")
Expectations: trading within the range 1.5108-1.5149 as preparation for the attack of support 1.5051, which is likely to be successful.
solutions:
1) NO purchases! Sell on corrections (in the zone of 1.5149) with the targets 1.5108, 1.5051 and (in the medium run) even lower.
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.
