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Pound. Flat as northern training

02 November 2016, GBP/USD

Daily chart: the pair continues to consolidate in the zone of middle Bollinger band (1.2234) on the background of the envelope narrowing (1.1920-1.2752).


H4: very passive ADX suggests that within the present day range of envelopes Bollinger (1.2134-1.2324) will remain as bi-directional price fluctuations.


H1: finally localize the range of the weak ADX and stable horizontal Bollinger envelopes - 1.2213-1.2254.


Expectations:so, today we expect a non-directional horizontal flat corridor of 1.2213-1.2254. It is impossible to notice the General North momentum rates, which further contributes to the direct correlation between the euro and the dollar, which, in my opinion, is oriented upward.

Trading solutions: trading in the corridor 1.2213-1.2254, but obviously sales would be unsafe, and Vice versa.

Aleksey Panasenko
Analyst of «FreshForex» company
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