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Flat continues

02 August 2016, GBP/USD

Daily chart: the price still tends to accumulating volumes within a wide range 1.2918 – 1.3376 (the range of Bollinger envelopes).

Н4: a better shaped horizontal corridor 1.3144 – 1.3250. ADX is weak, there are no signs of preparation of a breakthrough yet.

Н1: the same picture: a flat configuration of envelope within the range of 1.3170-1.3204

Expectations: Flat 1.3170-1.3204

Solutions: skip trading.

Aleksey Panasenko
FreshForex Analyst
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