GBPUSD – Flat
Daily chart: ADX is growing, but it is not in trend yet. At the same time there is a distinct bullish momentum. We will see today whether news release will support it or not. Resistance range is 1.2576-1.2600.
Н4: Yesterday attempt to break out was not very successful – bears won away a solid inside bar. However, there is still a downward movement towards upper Bollinger band (1.2635)
Н1: the situation seems quite uncertain. The pair is trapped inside 1.2494-1.2668 corridor, which seems not to be ready for possible shifts. Considering that price is in the middle of the corridor, it is a real challenge to choose entry points and stop-losses.
Expectations: anything is possible: upward shift to 1.2668 and drop towards 1.2494. If you are not an aggressive trader (or you are not experienced enough), consider refraining from trades before the Non-Farm report is published.
Solutions: none.
You may check other analytical reviews on the web-site of FreshForex company. Source: freshforex.com.
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