We wait for growth towards 1.5640 and shall sell from there

July 28, 2015

GBP/USD

Daily chart the pair tends to rise in the area of the upper Bollinger band (1.5735). However, it has a dynamic (descending) character, plus H1 gives a purely Southern pattern, so the bulls are expected at a lower part

Í4: strong resistance from 1.5640 (the upper Bollinger Band)

Í1: Weak ADX makes us believe in strength of resistance around 1.5593-1.5600 area. However, after that we will wait when the price works on 1.5640

Expectations: 1) Growth to 1.56 and then a roll back to 1.5555 and rising to 5640 . 2) Direct growth to 1.5640 (in case of a break above 1.56)

Trading solutions:

1) Keep Buy trades to 1.5640

2) We shall put Sell Limit orders to sell from 1.5640.

Publication source
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