Selling from the area 1.5553-1.5562

August 3, 2015

GBP/USD

Daily chart: the pair is striving to reach the upper Bollinger band (1.5715), but ADX show weaknesses, so we wait a strong resistance in this area.

Í4: a more localized resistance at 1.5653 (the upper Bollinger Band). Also we have passive ADX.

Í1: a dense 1.5653-1.5662 resistance zone, ADX is insufficient for a breakthrough, so you can open Sell trades. Support (and possible target) - 1.5580 (the bottom band).

Expectations: hitting 1.5653-1.5662 and decline to 1.5580.

Trading solutions:

1) Selling from the area1.5653-1.5662 to 1.5580.

Publication source
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