Pound. Two scenarios for today | 25 October 2016
25 October 2016, GBP/USD
Daily chart: the pair continues to consolidate in the middle of the Bollinger envelope bottom (1.1871-1.2544). We still believe this trend to continue, but consider the general southern direction, which can be implemented at any time due to the increased activity of ADX.
H4: there is a horizontal flat corridor within the Bollinger envelope (1.2181-1.2315), but we also note the trend ADX activity.
H1: there is more localized corridor 1.2181-1.2245 (see blue arrow.). If the bulls can break the resistance of 1.2245, we see move to 1.2315.
Expectations:
The main scenario - flat 1.2181-1.2245.
Alternative Scenario - Breakthrough to 1.2315
Trading solutions:
Trade in the corridor of 1.2181-.2245 Long positions to 1.2315 (in the case of the alternative scenario)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.
