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A break?

06 September 2016, GBP/USD

Daily chart: ADX has come close to the trendline, and shows the pressure. Of course, bulls did not like yesterday's pinbar, but we are based on continuation of the northern pressure (as long as it does not become apparently impossible)

Н4: the main indicators, it is a echnical downward correction. However, resistance 1.3406 (upper Bollinger band, plus round psychological level) continues to be a magnet for the price. Support is at the middle band (1.3260)

Н1: at this local frame, the day can be spent within flat 1.3282 - 1.3343 (range of Bollinger bands). ADX is rising, but still weak. Envelopes are stable and there are no signs of exit beyond them.

Expectations: flat for the day 1.3282 - 1.3343

Trading solutions: either try to trade on both sides of the corridor 1.3282 - 1.3343 or abstain from transactions until we get more expressed directional tendencies.

Aleksey Panasenko
Analyst of «FreshForex» company
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