Bearish pressure, but there is a room for correction | 16 December 2015
16 December 2015, GBP/USD
The daily chart: bears are actively involved in the new phase of decline. There is a good chance that the bottom Bollinger band (1.4960) will be finalized.
Н4: the bottom envelope is broken - also a southern karma.
Н1: intermediate support 1.5004, from where a correction may pass to the middle band (1.5114).
Expectations: The main scenario - touch of 1.5004 and correction to 1.5114, and then fall to 1.4960
The alternative scenario - a direct fall to 1.4960
Trading solutions: 1) When we have a Long signal around 1.5004 and 1.4960 - we should buy to 1.5114. 2) On growth to 1.5114 - we should sell to 1.5004 and 1.4960
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.
