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Flat 1.3001 - 1.3042

28 September 2016, GBP/USD

Daily chart: rising flat toward the middle Bollinger band (1.3159). ADX contradicts to RSI suggesting a corrective nature of the movement.

Н4: local resistance around 1.3065 (upper Bollinger band). ADX have weak parameters, so we do not expect a breakthrough above. Support liness are at 1.3001 (middle Bollinger band) and 1.2918 (lower band)

Н1: a little better shaped resistance 1.3042 (upper Bollinger band) and weak ADX. Intraday we expect trading inside the corridor 1.3001-1.3042

Expectations: rise to 1.3042 and then a downward rollback to 1.3001

Solutions: cautious trading within the range 1.3001-1.3042

Aleksey Panasenko
FreshForex Analyst
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