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Flat in the narrow range

Flat in the narrow range | 26 July 2016

26 July 2016, GBP/USD

Four-hours chart of GBPUSD. The pair continues to consolidate around (2/8). Apparently, in the near future we will see a continuation of the flat, because neither bulls nor bears are not taking any decisive action. We expect growth from current levels with a view to the nearest local Low and a downward rebound. The medium-term scenario can be considered after exit of the price from the current flat. But, given the dominance of the downtrend, currently an advantage belongs to sellers

Trading solutions: no

Nikolay Krishtopov
FreshForex Analyst
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