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A flat range 1.3215-1.3280

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

Aleksey Panasenko
FreshForex Analyst
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