Potential bottom is around 1.4116 | 20 January 2016

20 January 2016, GBP/USD

Daily chart: extreme movement of the ligament ADX/RSI continues, which signals about approach of correction, but we have not received signals of beginning correction yet. The bottom band of Bollinger shows a possible bottom in the area of 1.4116.

Potential bottom is around 1.4116

Н4: bullish convergence of oscillator. Support is in the area of 1.4116, resistance is at 1.4293

Potential bottom is around 1.4116

Н1: a similar situation.

Potential bottom is around 1.4116

Expectations: So, we wait for fall to 1.4116, and then an upward reversal with the first target 1.4227

Trading solutions: buy from 1.4116 to 1.4227

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.

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Aleksey Panasenko

FreshForex Analyst

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