A flat range 1.3215-1.3280 | 19 July 2016
19 July 2016, GBP/USD
Daily chart: ADX is still in the weak area, so we can expect movement in different directions. Resistance is at 1.3531 (middle Bollinger band). In the medium run pound may fall to the bottom band (1.2246)
Н4: a flat corridor within Bollinger envelopes (1.2097-1.3435)
Н1: a better expressed horizontal corridor 1.3215-1.3280.
Expectations: flat within the range of 1.3215-1.3280
Solutions: either a "fence", or trading within the corridor 1.3215-1.3280
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
