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The range 1.3067 - 1.3143

05 August 2016, GBP/USD

Daily chart: the pair has predictably remained within the flat trading range inside Bollinger envelopes (1.2950-1.3392), having bounced off the upper Bollinger Band.

The range  1.3067 - 1.3143

Н4: at the local level the price is concentrated inside the bottom envelope (1.3067-1.3242)

The range  1.3067 - 1.3143

Н1: magnetism from support 1.3067 (the bottom Bollinger band) still remains here, from where the price is expected to pull upwards to 1.3143

The range  1.3067 - 1.3143

Expectations: decline towards 1.3067 and then surge to 1.3143

Solutions: purchase from around 1.3067 to 1.3143

Aleksey Panasenko
FreshForex Analyst
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