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Pound. The corridor of 1.2164-1.2256

Pound. The corridor of 1.2164-1.2256 | 27 October 2016

27 October 2016, GBP/USD

Pound.The corridor of 1.2164-1.2256

Daily chart: ADX aggressive, so the basic expectation is to retest the lower Bollinger band (1.1846) after touching middle band (1.2434).

27102016p1

H4: ADX is locally passive, which is adjusted down. This can save sideways 1.2164-1.2256 outlined by Bollinger envelopes.

27102016p2

H1: There is a more localize horizontal flat range - 1.2202-1.2244. In General, we can note the resistance zone of 1.2244-1.2256, which won’t probably be broken - ADX parameters are not sufficient to breakdown levels.

27102016p3

Expectations: so, we expect a flat in the 1.2202-1.2244 corridor. Or even 1.2164-1.2256.

Trading solutions: trading within the range of 1.2164-1.2256.

Aleksey Panasenko
FreshForex Analyst
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