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Sell from 1.4508

18 May 2016, GBP/USD

Daily chart: most likely, the current trend will continue - flat at the middle Bollinger band (1.4472). ADX is weak and inactive, although we note that envelopes started to get narrower, which may indicate accumulated of volume. However, it seems it will not happen today.

Н4: a flat horizontal corridor within Bollinger envelopes (1.4332-1.4508)

Н1: a better shaped flat corridor 1.4435-1.4508.

Expectations: leap up to 1.4508 and then fall to 1.4435

Trading solutions: sales from 1.4508 to 1.4435.

Aleksey Panasenko
FreshForex Analyst
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