Flat at 1.2445-1.2523 | 13 February 2017

13 February 2017, GBP/USD

Daily chart: the pair is inside broad horizontal flat corridor of 1.2129-1.2754 (Bollinger band). ADX's behavior is not clear, it is simultaneously weak and edging... We are likely to see further price rotation around middle Bollinger band (1.2445)

Flat at 1.2445-1.2523

Н4: there is more localized flat corridor within Bollinger envelopes range (1.2400-1.2586). Here ADX is much more active. However, Bollinger bands look very solid, so immediate breakout beyond specified borders is not likely.

Flat at 1.2445-1.2523

Н1: final trading corridor for Monday is 1.2445-1.2523 (Bollinger bands range). ADX is dropping, that matches flat expectations on all three charts.

Flat at 1.2445-1.2523

Expectations: flat in 1.2445-1.2523 corridor is highly likely.

Solutions: trading within 1.2445-1.2523 range

Aleksey Panasenko
FreshForex Analyst
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