Preparing to drop | 26 January 2016
26 January 2016, GBP/USD
Daily chart: aspiration to the bottom band (1.4003)
Н4: a few intermediate support lines on the ways to drop - 1.4233 (middle Bollinger Band) and 1.4135 (the bottom band). Given the horizontally placed envelopes and weak ADX, do not expect the pair to get below these levels.
Н1: also a passive ADX, we are waiting for trading inside the bottom envelope (1.4221-1.4265) before the main phase of decline.
Expectations: we waiting for the "drill operations" from bears at the support 1.4221, with possible moves to 1.4265 as preparation for drop to to 1.4135
Trade Solutions: sales to 1.4135 from 1.4265
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.
