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Hold on

07 April 2016, GBP/USD

Daily chart: so far, support from the bottom Bollinger band (1.4049) predictably retains sellers. ADX is close to the active zone, which makes the medium-term upward rebound and decline to be equally probable plans. We are waiting for clarification of the situation.

Н4: Locally bearish trend remains here, so bears may attack support 1.4049-1.4065 once again. Resistance is at 1.4195 (middle Bollinger band)

Н1: it is surprisingly very calm here. Flat horizontal corridor within Bollinger envelopes (1.4049-1.4195)

Expectations: so, we expect flat within the range 1.4049-1.4195 (probably without touching walls of the channel, which will much complicate entries inside the flat) Trading solutions: either skip this day or try a cautious trading within the channel 1.4049-1.4195

Aleksey Panasenko
Analyst of «FreshForex» company
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