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The session can be nervous

23 November 2016, GBP/USD

Daily chart: very weak and corrective ADX as the price is wandering within Bollinger envelopes (1.2140-1.2642). This is the flat.

Н4: a horizontal corridor within Bollinger envelopes (1.2299-1.2516). But here, as we see, ADX is very active, which may bring impulse rebuilding.

Н1: also an aggressive status of ADX. The pair is cutting the range inside narrowing Bollinger bands - 1.2397-1.2442. With such aggression of ADX the price may break the borders.

The main scenario - impulse flat (the ragged multidirectional movement) inside 1.2300-1.2516

The alternative scenario - a calm corridor 1.2397-1.2442 Solutions: abstain from trading or try to trade borders of the corridor 1.2300-1.2516.

Aleksey Panasenko
FreshForex Analyst
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