07 Febrero 2017, GBP/USD
Daily chart: buyers didn't manage to make a good bullish pinbar, so local upside structure won't retain and downside rollback will not stop. There might be continuing price decline.
Н4: very active ADX indicates that bears still have positional advantage on their side. At the moment the price is trapped inside lower Bollinger envelope, so one may look for selling signals in 1.2533 region and wait for key support level breakout at 1.2400.
Н1: locally the pair is in flat corridor 1.2442-1.2500 (Bollinger envelopes range). It is only logical that the pair may stay in flat for another day.
Expectations:
Core scenario - flat in 1.2442-1.2500
Alternative scenario - decline to 1.2400 and attempt to go further down.
Solutions: consider selling in 1.2500 region towards 1.2442 and 1.2400.
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