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Flat inside the corridor 1.4456-1.4502

24 May 2016, GBP/USD

Daily chart: accumulation continues in the range Bollinger envelopes (1.4350-1.4663) on the background of weak ADX. Probably, the price will rotate around the middle band 1.4500

Flat inside the corridor 1.4456-1.4502

Н4: here the pair consolidates inside bottom Bollinger envelope (1.4439-1.4538). ADX is also weak, so it is unlikely that we will the price leaving this range.

Flat inside the corridor 1.4456-1.4502

Н1: an even better shaped corridor 1.4456-1.4502. Again, ADX parameters are inadequate. Therefore, the main expectation for the day will be flat within the specified range.

Flat inside the corridor 1.4456-1.4502

Expectations: flat waiting in the corridor 1.4456-1.4502

Trading solutions: trade in both directions within the flat channel (or sales from its top wall)

Aleksey Panasenko
FreshForex Analyst
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