Sales from 1.4019

17.06.2021

Daily chart: the pair has broken through the lower Bollinger envelope, which is a signal of a further drop in quotations. ADX in a very strong trend zone also confirms the negative forecast for the pound. A possible target for sellers is the support area 1.3800.

Н4: the local “bearish flag” is also an independent pattern of the continuation of the decline. Activation of bears is possible at any moment.

Н1: possible sales zone is 1.4019 (Bollinger middle line). Trend impulses start very often after the breakdown of the lower envelope exactly from the middle band.

Conclusions: a rollback to 1.4019, then a fall to 1.3900, with an eye on 1.3800.
Trading decisions: selling from the 1.4019 zone to 1.3900 and 1.3800.