18 October 2016, GBP/USD
Daily chart: downward movement is not completely exhausted, as proved by the lower Bollinger band, which continues to look down to 1.1993. But the price is heavily oversold, strong ADX and round psychological level 1.20 can cause an upward correction towards 1.2666 (middle Bollinger band)
Н4: at this local frame, the pair is within Bollinger envelopes (1.2141-1.2248). This is more than 100 points, which is quite enough for hesitation of "British".
Н1: at this local frame the corridor is better shaped - 1.2141-1.2197. ADX is passive, therefore, probably, the range will be maintained throughout the day.
Expectations: a flat day within the corridor 1.2141-1.2197
Solutions: trade within the range of 1.2141-1.2197
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