16 January 2017, GBP/USD
Daily chart: Monday was opened with substential gap (there is automatic breaking of lower Bollinger envelope), it is logical to expect rollback to middle band (1.2265). From there one might consider selling to force the pair to the new lows
Н4: there is quite the same situation. Moreover, we can observe local bearish Over&Under pattern at 1.2265. That creates additional signals for rollback to this area.
Н1: strong resistance level of 1.2169 (middle Bollinger band) may stop correction. However, 1.2265 is attractive, so the pair is quite likely to shift to this level.
Expectations: we would wait for correction to the upside towards 1.2265. From this area the pair is likely later to decline towards 1.1950 (extra day)
Solutions:
1. Consider buying towards 1.2265
2. Consider selling from 1.2265
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