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ADX is not ready for big moves

29 November 2016, GBP/USD

Daily chart: the pair is still inside the horizontal corridor 1.2250-1.2605 between Bollinger bands. It seems that the tendency will continue - ADX is weak.

ADX is not ready for big moves

Н4: more localized flat range is 1.2386-1.2497. We also notice stable Bollinger envelopes, that reflect strong levels on upper/lower lines.

ADX is not ready for big moves

Н1: Bollinger bands are narrowing in 1.2386-1.2427. ADX in this frame is passive too, that's why flat is likely to continue.

ADX is not ready for big moves

Expectations:

Core scenario - flat within the corridor 1.2386-1.2427

Alternative scenario - wider flat corridor 1.2386-1.2497.

Solutions: cautious trades within the corridor 1.2386-1.2497.

Aleksey Panasenko
Analyst of «FreshForex» company
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