A Flat Day | 12 December 2016

12 December 2016, GBP/USD

Daily chart: it is not clear yet how the price on traditional support level around middle Bollinger band (1.2519) is going to behave. In case of a further downward breakout, price is likely to go down to 1.2324 (lower Bollinger band); in case of upward shift a rise towards 1.2727 (upper Bollinger band) is to be expected

A Flat Day

Н4: the price is locally consolidated inside lower Bollinger envelope (1.2519-1.2628). ADX is passive, so the range is unlikely to change today.

A Flat Day

Н1: there is also horizontal flat corridor within Bollinger envelopes (1.2553-1.2611)

A Flat Day

Expectations: wait for a flat corridor 1.2553-1.2611.

Solutions: trading inside 1.2553-1.2611 range

Aleksey Panasenko
FreshForex Analyst
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