Downward consolidation | 15 نوفمبر 2016
15 نوفمبر 2016, GBP/USD
Daily chart: the pair is consolidating within the upper Bollinger envelope in an attempt to grasp a possible upward structure. The range is 1.2348-1.2605.
Н4: we confirm the flat side corridor 1.2348-1.2605 (the range of Bollinger envelopes). ADX is close to the trend valu thus enabling impulse movement.
Н1: tapering downward range 1.2454-1.2531. In general, accumulation can be recognized bearish, which fits into all of the above scenarios.
Expectations: So, we can expect growth toward 1.2531 and then a downward pullback to 1.2454
Solutions:
1. Buy to 1.2531
2. Sales from 1.2531 towards 1.2454.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
