Wait for Continued Consolidation by Friday
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.
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.
Н1: there is certain consolidation within upper Bollinger envelope (1.2462-1.2542)
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 PanasenkoAnalyst of «FreshForex» company
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