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Flat with a bearish inclination

15 April 2016, GBP/USD

Daily chart: The pair continues to stay inside the narrow flat corridor within the Bollinger envelopes (1.4015-1.4466). Bears have a little better shaped momentum (it is confirmed the last time there was no touch of the upper walls). Therefore, we can expect touch of the bottom Bollinger band (1.4015)

Н4: a more localized support is at the bottom Bollinger band (1.4106). ADX is in the active zone, but shows no correction.

Н1: the situation is similar to the eurodollar's. A very narrow range of Bollinger envelopes and flat inside the corridor 1.4133-1.4164.

Expectations: The main scenario - flat 1.4133-1.4164

The alternative scenario - decline to 1.4106

Trading solutions: sell from 1.4164 to 1.4106.

Aleksey Panasenko
FreshForex Analyst
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