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Flat continues

17 November 2016, GBP/USD

Daily chart: ADX continues to stay in the passive area, so the price is still accumulating potential within the upper Bollinger envelope (1.2348-1.2605)

Н4: we confirm horizontal omnidirectional flat nature of trading with a little better shaped support levels - 1.2372 (lower Bollinger band)

Н1: the third frame in a row, where ADX shows weakness. Thus, today's trading range is inside the range of Bollinger envelopes (1.2416-1.2482)

Expectations: continuation of the flat inside the corridor 1.2416-1.2482

Solutions: cautious trading within the range of 1.2416-1.2482.

Aleksey Panasenko
FreshForex Analyst
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