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Wait for Continued Consolidation by Friday

Wait for Continued Consolidation by Friday | 30 November 2016

30 November 2016, GBP/USD

Daily chart: there is a certain narrowing of Bollinger bands but the range of envelopes (1.2275-1.2605) will apparently be maintained up to Friday changes by NFP release.

Wait for Continued Consolidation by Friday

Н4: more localized horizontal corridor is within the range of Bollinger envelopes (1.2407-1.2513). ADX is indifferent to unfolding events, so its shift beyond specified borders is not likely.

Wait for Continued Consolidation by Friday

Н1: there is certain consolidation within upper Bollinger envelope (1.2462-1.2542)

Wait for Continued Consolidation by Friday

Expectations: wait for a possible shift to 1.2542, after that the pair is likely to return to 1.2462.

Solutions: Sell in the range of 1.2542 and 1.2462.

Aleksey Panasenko
FreshForex Analyst
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