Expecting the Price to Touch 1.2100 Area and Rebound | 15 March 2017
15 March 2017, GBP/USD
Daily chart: 1.2100 level (lower Bollinger band) is still valid, the price is likely to reach it and rebound.
Н4: bullish oscillator convergence indicates weakening of bearish trend and preparation of reversal to the upside. The price touching 1.2100 area would be technically appropriate for bulls to set buy limit orders.
Н1: here support level in 1.2107 area (lower Bollinger band) is a potential pound demand area.
Expectations:decline to area of 1.2100-1.2107 followed by substantial rebound.
Solutions:
1. Consider selling to 1.2107
2. Consider buying from area of 1.2100-1.2107.
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.
