British Pound generally targets 1.54

July 30, 2015

GBP/USD

Daily chart: a bearish pin from the upper Bollinger band has been produced , which almost certainly will bring the pair to the bottom Bollinger band in the next few days (1.5403)

Í4: a local support at the bottom Bollinger band (1.5503)

Í1: envelopes Bollinger are quiet and passive ADX imply that today the price will spend the day in the bottom Bollinger envelope (1.5567-1.5614)

Expectations: decline to 1.5567 and bounce to 1.5614.

Trading solutions:

1) We shall sell on bounce from 1.5614 with the medium-term objective 1.5403.

Publication source
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