GBPUSD – FlatDaily chart: ADX is very aggressive, at any time now the pair may start declining at accelerated pace towards 1.2142. Н4: here we are observing locally oversold market and corrective ADX. Lower Bollinger envelope range is not likely to change during the day (1.2204-1.2338) Н1: more localized corridor is 1.2251-1.2287 (Bollinger bands). However, ADX is growing, envelopes are narrowing down so it’s not recommended entering long. Expectations: Core scenario – flat within 1.2251-1.2287 Alternative scenario – drop to 1.2204 Solutions: look for downward entries towards 1.2204 (presumably from 1.2287)
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