Flat day expected | 08 Februari 2017

08 Februari 2017, GBP/USD

Daily chart: the pair is inside upper Bollinger envelope (1.2415-1.2754) but we can see that on the local charts there is bearish ADX pattern in 1.2660 region. That narrows down flat range and allows us to sell by growth.

Flat day expected

Н4: there is local flat corridor of 1.2415-1.2559 (Bollinger envelopes range). ADX is corrective so the price is not likely to leave these borders.

Flat day expected

Н1: we are confirming flat market. Corridor of 1.2473-1.2559 is sufficient for trading. One may consider cautious trading within this corridor.

Flat day expected

Expectations: flat day within corridor of 1.2473-1.2559

Solutions: trading within corridor of 1.2473-1.2559

Aleksey Panasenko
Analis perusahaan "FreshForex"
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