Log in

Pound. Two scenarios for today

25 October 2016, GBP/USD

Daily chart: the pair continues to consolidate in the middle of the Bollinger envelope bottom (1.1871-1.2544). We still believe this trend to continue, but consider the general southern direction, which can be implemented at any time due to the increased activity of ADX.

251016p1"

H4: there is a horizontal flat corridor within the Bollinger envelope (1.2181-1.2315), but we also note the trend ADX activity.

251016p2"

H1: there is more localized corridor 1.2181-1.2245 (see blue arrow.). If the bulls can break the resistance of 1.2245, we see move to 1.2315.

251016p3"

Expectations:

The main scenario - flat 1.2181-1.2245.

Alternative Scenario - Breakthrough to 1.2315

Trading solutions:

Trade in the corridor of 1.2181-.2245 Long positions to 1.2315 (in the case of the alternative scenario)
Aleksey Panasenko
Analyst of «FreshForex» company
See also:
Agree with the review?
Traders' opinion:

Do you have any suggestions to make our website better? Have you noticed an error on the site? Tell us

Tell us

Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with rendering Personal area. How to enable cookie support.