Two ways for today | 29 September 2016
29 September 2016, GBP/USD
Daily chart: the pair is consolidated within the lower envelope Bollinger (1.2880-1.3159). ADX is far from the active trend zone, and the price is based in the most failing spot to open a trade: middle of the range.
Н4: a better shaped horizontal flat corridor 1.2933-1.3050. Bearish inside bar from the upper band allows us selling based on the decline to 1.2933.
Н1: a better shaped support 1.2990 (the lower Bollinger band). Enhanced activity of ADX, therefore, an alternative scenario is a deepr break down and fall towards 1.2933.
The main scenario - decline to 1.2990 and then rise to 1.3040
The alternative scenario - decline to 1.2933 (on a breakdown under 1.2990) .
Trading solutions: based on development of one of the plans, we shall act and consider signals of your trading systems. An alternative scenario should be considered as a quite probable one.
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.
