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Corridor 1.2141 - 1.2197

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)

Corridor 1.2141 - 1.2197

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".

Corridor 1.2141 - 1.2197

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.

Corridor 1.2141 - 1.2197

Expectations: a flat day within the corridor 1.2141-1.2197

Solutions: trade within the range of 1.2141-1.2197

Aleksey Panasenko
FreshForex Analyst
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