14 December 2016, GBP/USD
Daily chart: the pair is trapped inside upper Bollinger envelope (1.2542-1.2750). ADX is almost in trend, so it's hared to say when trend will start. Maybe, it will start today.
Н4: The situation here is quite the same. There is a horizontal corridor within Bollinger envelopes (1.2542-1.2750) and ADX which is not strong enough. The pair is obviously going to drift until news is published.
Н1: we are noticing the pair's downward potential due to bearish Over&Under pattern. Possible selling entry is 1.2700, profit-taking point is 1.2632.
Expectations: from a technical perspective we expect a shift towards 1.2700 and later a drop towards 1.2632. However, all the expected moves can be prevented by increased market volatility caused by evening news release.
Solutions: sell in the range between 1.2700 and 1.2632.
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