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Flat continues at 1.2450-1.2514

Flat continues at 1.2450-1.2514 | 17 February 2017

17 February 2017, GBP/USD

Daily chart: flat continues within narrowing Bollinger bands (1.2371-1.2653 range). Major price rotation region is 1.2477 (middle Bollinger band).

Flat continues at 1.2450-1.2514

Н4: more localized flat corridor is 1.2408-1.2536 (Bollinger envelopes range). ADX is weak and falling, so the price is not likely to go beyond specified borders.

Flat continues at 1.2450-1.2514

Н1: here we have similar situation, except for even more localized corridor of 1.2450-1.2514 (Bollinger bands). The price is likely to stay inside this corridor during the day.

Flat continues at 1.2450-1.2514

Expectations: flat continuation in corridor of 1.2450-2514

Solutions: trading inside the range of 1.2450-1.2514

Aleksey Panasenko
FreshForex Analyst
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