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Pound. The corridor of 1.2200-1.2258

Pound. The corridor of 1.2200-1.2258 | 01 November 2016

01 November 2016, GBP/USD

Daily chart: the pair continues to consolidate at the middle Bollinger band (1.2324) ADX / RSI bunch moves in different directions, which speaks in favor of the continuation of the flat script.

01112016p1

H4:horizontal corridor within the Bollinger bands range (1.2143-1.2253). Envelopes are relatively stable, to ADX extremely passive, so in this day forward to the continuation of the flat in the same boundaries.

01112016p2

H1: there is more localized corridor within the upper Bollinger envelope (1.2197-1.2258).

01112016p3

Expectations:So, wait for growth toward 1.2258 and then fall to 1.2200.

Trading solutions: short positions from 1.2258 to 1.2200.

Aleksey Panasenko
FreshForex Analyst
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