Continuing flat in 1.2407-1.2530 range | 22 February 2017

22 February 2017, GBP/USD

Daily chart: the pair is still in flat corridor within Bollinger envelopes (1.2400-1.2619). Bollinger bands are narrowing down, which can indicate preparing distribution of accumulated volumes.

Continuing flat in 1.2407-1.2530 range

Н4: more localized flat corridor of 1.2400-1.2530. ADX is passive, so there is no trend potential and this corridor is likely to retain during the day.

Continuing flat in 1.2407-1.2530 range

Н1: there is valid resistance level around 1.2530 (upper Bollinger band). Support levels are around 1.2468 and 1.2407 (middle and lower Bollinger bands).

Continuing flat in 1.2407-1.2530 range

Expectations: touch of 1.2530 followed by drop to 1.2468 and 1.2407 region

Solutions: consider selling from 1.2530 towards 1.2468 and 1.2407

Пополнение без комиссий в компании FreshForex

Aleksey Panasenko
FreshForex Analyst
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