Looking for Downside Entries | 27 March 2017

27 March 2017, GBP/USD

Daily chart: Friday session was closed by bearish inside bar, which is likely to trigger big drop towards 1.2094 (lower Bollinger band).

Looking for Downside Entries

Н4: here we see support level around lower Bollinger band (1.2443). Bears will enter the market after downside breakout of this level aiming at 1.2331.

Looking for Downside Entries

Н1: another support level is in 1.2468 region (lower Bollinger band). ADX shows weak trend, so region of 1.2443-1.2468 may be too tough for bears yet. Resistance levels in 1.2485 and 1.2506 regions (middle and upper Bollinger bands).

Looking for Downside Entries

Expectations:

Core scenario - rebound from 1.2443-1.2468 region to 1.2508. From this level another drop may be triggered towards 1.2331.

Alternative scenario - direct drop towards 1.2331.

Trading signals: consider looking for downside entry points (the best entry point is in 1.2508 region)

Пополнение без комиссий в компании FreshForex

Aleksey Panasenko
FreshForex Analyst
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