08 July 2015, GBP/USD
Daily chart : bears force the price with an active ADX parameter, but in front there is support from the bottom band (1.5373). It can bounce the pair up but such ADX can break the envelope and only after that a pullback to the middle band (1.5650) will take place.
.png "Dense support around 1.5373-1.5404")
Н4: We confirm pressure down to 1.575-1.5404. Local resistance 1.5541 (the middle Bollinger band ).
.png "Dense support around 1.5373-1.5404")
Н1: oscillator obviously converges along the price movement which can anticipate weakening of bears.
.png "Dense support around 1.5373-1.5404")
Expectations: so, we expect an attack of the area 1.5373-1.5404 and an upward pullback in the direction of 1.5541.
Trading decision:
1) Once we receive long signal, we shall buy from the area 1.5373 to 1.5541.
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