Forex Technical Analysis: Trend potential – ADX is not ready for big moves

GBPUSD – FlatDaily chart: the pair is still inside the horizontal corridor 1.2250-1.2605 between Bollinger bands. It seems that the tendency will continue – ADX is weak. Н4: more localized flat range is 1.2386-1.2497. We also notice stable Bollinger envelopes, that reflect strong levels on upper/lower lines. Н1: Bollinger bands are narrowing in 1.2386-1.2427. ADX in this frame is passive too, that’s why flat is likely to continue. Expectations: Core scenario – flat within the corridor 1.2386-1.2427 Alternative scenario – wider flat corridor 1.2386-1.2497. Solutions: cautious trades within the corridor 1.2386-1.2497.
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