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Sell after rising 1.4348 zone

Sell after rising 1.4348 zone | 17 March 2016

17 March 2016, GBP/USD

Daily chart: pair has risen into upper Bollinger envelope but ADX is decreasing. So pair couldn’t get upper line (1.4477). We are expecting flat into the range of envelope (marked yellow zone).

Sell after rising 1.4348 zone

Н4: we are expecting ADX correction and localized resistance on 1.4430 level (upper Bollinger line).

Sell after rising 1.4348 zone

Н1: It is more localized possible level of the pair it is 1.4348 (upper Bollinger line). Support is on 1.4197 level (middle line).

Sell after rising 1.4348 zone

Expectation: growth to 1.4348 and than decrease to 1.4197

Trading decisions:

1) Buy to 1.4348

2) Sell from 1.4348 to 1.4200

Aleksey Panasenko
FreshForex Analyst
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