Wait touch of 1.53 and growth to 1.5472

May 27, 2015

GBP/USD

Daily chart: Bears managed to get into the bottom envelope and now everything is ready for a further decline of price to 1.5065 (the bottom Bollinger band). We will try to assess their potential using younger charts.

Í4: A serious support is based on 1.53 (the bottom Bollinger band). A slight convergence of oscillator is present, but it also puts a breakthrough into a question.

Í1: we also see a bullish convergence here. So, when Lows are updated (or perhaps, without this update), we will wait when upward movement will start to 1.5472

Expectations: decline to 1.53 and growth to 1.5472

Trading decisions:

1) We sell to 1.53

2) We buy from 1.53 to 1.5472.

Publication source
FreshForex information  FreshForex reviews

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