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The corridor for finding entry points

27 July 2016, GBP/USD

Daily chart: the pair is in the broad flat within Bollinger envelopes (1.2887-1.3448). ADX is rising, but is still in a very weak area. Probably, consolidation around the middle Bollinger band (1.3175) will continue.

Н4: a better shaped corridor 1.3058-1.3225. We expect flat.

Н1: even a better shaped range within Bollinger envelopes (1.3112-1.3150). At the same time, Bollinger Bands are noticeably narrowed, so the corridor is likely to be broken.

The main scenario - flat 1.3112-1.3150

The alternative scenario - a wider flat 1.3055-1.3175

Solutions: search for signals to both sides of the corridor 1.3055-1.3175

Aleksey Panasenko
FreshForex Analyst
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