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).
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.
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).
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)
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