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Flat Potential Keeps Growing

Flat Potential Keeps Growing | 10 February 2017

10 February 2017, GBP/USD

Daily chart: the pair still moves around middle Bollinger band (1.2445) ramping up potential. ADX is slipping and weak, so we are not expecting any changes today.

Flat Potential Keeps Growing

Н4: horizontal flat corridor is inside Bollinger envelopes range (1.2400-1.2586). We can confirm bearish Over&Under pattern that we mentioned yesterday: everything indicates rollback to 1.2670 region

Flat Potential Keeps Growing

Н1: we also have local bearish Over&Under from 1.2545 region (see blue area). In any case today corridor is likely to say inside borders of 1.2471-1.2565.

Flat Potential Keeps Growing

Expectations: we are expecting flat in 1.2471-1.2565

Solutions: trading from range borders (selling is more recommended)

Aleksey Panasenko
FreshForex Analyst
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