Consider resistance level as an entry point | 07 Desember 2016

07 Desember 2016, GBP/USD

Daily chart: downward movement is more possible. The goal is mid-term support level 1.2519 (middle Bollinger band).

Consider resistance level as an entry point

Н4: more localized support level is around 1.2575 (lower Bollinger band), resistance level is around middle band (1.2682). There is bear momentum on the market.

\Consider resistance level as an entry point

Н1: distinct and strong bearish oscellator divergence also indicates that buyers exhausted their potential. That let us consider opening short positions from around resistance level 1.2682 (middle Bollinger band). Support levels (and goals accordingly) are 1.2617, 1.2575, 1.2519.

Consider resistance level as an entry point

Expectations: wait for a touch in resistance range 1.2682 after what rapid drop towards 1.2617, 1.2575, 1.2519

Solutions: sell from 1.2682 to 1.2617, 1.2575, 1.2519.

Aleksey Panasenko
Analis perusahaan "FreshForex"
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