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Flat corridor 1.2400-1.2503

Flat corridor 1.2400-1.2503 | 21 February 2017

21 February 2017, GBP/USD

Daily chart: there is still a broad flat corridor within Bollinger envelopes range (1.2400-1.2626). ADX is passive, so there is no reason to expect the price to go beyond specified borders.

Н4: more localized flat corridor is 1.2397-1.2503. Bollinger envelopes are stable, ADX is very weak, there are no conditions for breakout.

Н1: here we are observing some impulsive bearish activity along with weak ADX. We will stick to the scenario of continuing flat at 1.2397-1.2503.

Expectations: flat within 1.2397-1.2503 range

Solutions: trading inside the corridor of 1.2397-1.2503.

Aleksey Panasenko
FreshForex Analyst
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