Daily Range of 1.2424-1.2503 | 06 April 2017

06 April 2017, GBP/USD

Daily chart: bears didn't manage to break middle Bollinger band but all the price movements are carried out against weak and corrective trend ADX. That means that flat may continue.

Daily Range of 1.2424-1.2503

Н4: there is flat corridor inside Bollinger bands range (1.2404-1.2549). Here we see passive ADX which maches daily chart expectations.

Daily Range of 1.2424-1.2503

Н1: there is more narrow flat corridor of 1.2424-1.2503 (Bollinger envelopes). ADX shows growing trend but it's not strong enough yet.

Daily Range of 1.2424-1.2503

Expectations: flat in the corridor of 1.2424-1.2503

Trading signals: consider trading both direcions within area of 1.2424-1.2503.

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Aleksey Panasenko
FreshForex Analyst
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