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Two scenarios for today

Two scenarios for today | 11 January 2017

11 January 2017, GBP/USD

Daily chart: ADX remains active but volatility is not high. As a rule, such calm precedes storm— Traditional advantages is on trend scenario's side (that is decline). Reversal to the upside is an alternative.

Two scenarios for today

Н4: price is trapped inside lower Bollinger envelope range (1.2051-1.2251). So in case of further decline, one may consider selling from 1.2251.

Two scenarios for today

Н1: there is local flat corridor within Bollinger envelopes range (1.2129-1.2180). ADX is almost in sleep mode, so flat is as possible as decline.

Two scenarios for today

Expectations:

Core scenario - flat in 1.2129-1.2180

Alternative scenario - decline towards 1.2051 (in case of this scenario, preliminary rise to 1.2251 is possible)

Solutions: consider selling from around 1.2180 and 1.2251 (depending on relevant situation)

Aleksey Panasenko
FreshForex Analyst
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