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Two ways for today

Two ways for today | 29 September 2016

29 September 2016, GBP/USD

Daily chart: the pair is consolidated within the lower envelope Bollinger (1.2880-1.3159). ADX is far from the active trend zone, and the price is based in the most failing spot to open a trade: middle of the range.

Н4: a better shaped horizontal flat corridor 1.2933-1.3050. Bearish inside bar from the upper band allows us selling based on the decline to 1.2933.

Н1: a better shaped support 1.2990 (the lower Bollinger band). Enhanced activity of ADX, therefore, an alternative scenario is a deepr break down and fall towards 1.2933.

The main scenario - decline to 1.2990 and then rise to 1.3040

The alternative scenario - decline to 1.2933 (on a breakdown under 1.2990) .

Trading solutions: based on development of one of the plans, we shall act and consider signals of your trading systems. An alternative scenario should be considered as a quite probable one.

Aleksey Panasenko
FreshForex Analyst
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