GBP/BGN: Our expectations: After the mid-termed long movement, price corrected again, however stopped at diagonal and horizontal supports. The Price Action signal shows us, that the price is making higher lows, just above the supports. Fibo is 38.2%. Price is on 200 SMA, which plays the role of a dynamic support as well.
Alternative scenario: If the price goes below the supports on about 2.30100, it can signal us for new short positions.
Commentary: Price Action - higher lows - probable signal for a long.
DEM(14) - in over-sold zones.
50 SMA/200 SMA - bullish formation, which is confirming our forecast.
Senan Fuchedzhiev - Trader
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