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The range 1.3313 - 1.3368

03 August 2016, GBP/USD

Daily chart: ADX is growing, but it is still far from the trendline area. This could mean continuation of the Northern accumulation inside the upper Bollinger envelope (1.3175-1.3407)

Н4: growth without sufficient efforts of ADX indicates the limited Northern potential for the day. Resistance - 1.3357 and 1.3407. Support is at 1.3235 (middle Bollinger band)

Н1: correction from ADX. The pair appears to spend the day inside the upper envelope (1.3313-1.3368)

Expectations: flat 1.3313-1.3368

Solutions: sales from 1.3368 to 1.3313

Aleksey Panasenko
FreshForex Analyst
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