Flat corridor 1.2400-1.2503 | 21 February 2017
21 February 2017, GBP/USD
Daily chart: there is still a broad flat corridor within Bollinger envelopes range (1.2400-1.2626). ADX is passive, so there is no reason to expect the price to go beyond specified borders.
Н4: more localized flat corridor is 1.2397-1.2503. Bollinger envelopes are stable, ADX is very weak, there are no conditions for breakout.
Н1: here we are observing some impulsive bearish activity along with weak ADX. We will stick to the scenario of continuing flat at 1.2397-1.2503.
Expectations: flat within 1.2397-1.2503 range
Solutions: trading inside the corridor of 1.2397-1.2503.
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.
