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Pound. Two scenarios for today

Pound. Two scenarios for today | 25 October 2016

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
FreshForex Analyst
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