Rising flat | 24 December 2015
24 December 2015, GBP/USD
Daily chart: very active ADX on the background of the received IB and a continued fall of the bottom Bollinger band. This means that for market it is simpler to continue downtrend, than to implement a reversal scenario. However, support zone 1.4810 is strong and an upward rebound from it followed by correction is possible.
Н4: accumulation within the flat 1.4819-1.4935
Н1: intraday support 1.4860, resistance - 1.49 (upper Bollinger band).
Expectations:
The main scenario - flat 1.4860-1.4900
The alternative scenario - decline to 1.48
Trading solutions: 1) Buy from the area of 1.48 2) Sales from the area 1.49
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.
