Flat day expected | 08 February 2017
08 February 2017, GBP/USD
Daily chart: the pair is inside upper Bollinger envelope (1.2415-1.2754) but we can see that on the local charts there is bearish ADX pattern in 1.2660 region. That narrows down flat range and allows us to sell by growth.
Н4: there is local flat corridor of 1.2415-1.2559 (Bollinger envelopes range). ADX is corrective so the price is not likely to leave these borders.
Н1: we are confirming flat market. Corridor of 1.2473-1.2559 is sufficient for trading. One may consider cautious trading within this corridor.
Expectations: flat day within corridor of 1.2473-1.2559
Solutions: trading within corridor of 1.2473-1.2559
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.
