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All three frames speak for continuation of drop

All three frames speak for continuation of drop | 06 January 2016

06 January 2016, GBP/USD

Daily chart: expressed bearish pressure. The bottom Bollinger Band accompanies drop and so far the pair has not touched the bottom. Deeper decline.

All three frames speak for continuation of drop

Н4: the same situation. Local support at 1.4616 can theoretically cause a little correction for the pair, but on the whole we can not consider such support to be reliable. A deeper breakdown is a much more likely event.

All three frames speak for continuation of drop

Н1: and another frame with the downward trend pressure

All three frames speak for continuation of drop

Expectations: we expect continuation of drop to 1.4550 and 1.45

Trading solutions: sale to 1.4550, 1.45

Aleksey Panasenko
FreshForex Analyst
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