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Possible sales from resistance 1.4689

Possible sales from resistance 1.4689 | 27 May 2016

27 May 2016, GBP/USD

Daily chart: ADX lacks distribution and that probably confirms strength of walls of the upper Bollinger envelope (1.4544/1.4735, the middle/upper band)

Possible sales from resistance 1.4689

Н4: divergence of oscillator, rounding of of the top envelope - all these are bearish arguments, so it is possible to expect drop to 1.4448 (lower Bollinger band)

Possible sales from resistance 1.4689

Н1: clamping inside the lower envelope (1.4647-1.4689), ADX is close to the core activity, but is retracted downwards - making a downward rebound more likely.

Possible sales from resistance 1.4689

Expectations: touch 1.4689 of and then fall to 1.4647 and 1.4618

Trading solutions: sales from 1.4689 to 1.4647 and 1.4618

Aleksey Panasenko
FreshForex Analyst
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