Expected bottom - 1.4014 | 15 June 2016
15 June 2016, GBP/USD
Daily chart: the fourth (forming) bar outside the Bollinger envelope anticipates an upward reversal as the price is nearing a strong pivot 1.4085.
Н4: the bottom Bollinger band is much lower - 1.4014, so the area of potential reversal is exactly here.
Н1: certain consolidation within the bottom Bollinger envelope (1.4085-1.4154) can be misleading, because ADX is in the active area of trend.
Expectations: The main scenario: decline to 1.4014 and then an upward bounce
The alternative scenario - flat 1.4085-1.4154
Trading solutions: 1. Sell to 1.4014
2 Around 1.4014 we will monitor possible upward signals.
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.
