Growth is expected to replace correction | 08 October 2015
08 October 2015, GBP/USD
The daily chart: the price has reached an important milestone - the middle Bollinger band (1.5322), which divides the envelopes on the top and bottom, which defines prospects for further movement of the pair. In case of a continued growth, the upper band (1.5590, extraday) is the target, in the opposite situation - a decline in the direction of the lower band (1.5028) will be initiated.
.png "Growth is expected to replace correction")
Н4: strong trend ADX makes bullish scenario (black arrow) more promising. At the same time, there is some overbought, therefore a pullback to the middle Bollinger (1.5218, blue Arrow) band is possible.
.png "Growth is expected to replace correction")
Н1: localized support at 1.5288 (middle Bollinger band), resistance - 1.5352 (the upper Bollinger band).
.png "Growth is expected to replace correction")
Expectations: we are waiting for growth to 1.5352 (with an eye to 1.5590 in the medium-term)
solutions: We buy from 1.5288 to 1.5352 and 1.5590
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.
