Forex Technical Analysis: Trend potential – Pound. Boring Ending of the Week

GBPUSD – Flat

Daily chart: pound has not changed – the pair is in flat in the area of middle Bollinger band (1.2422) whithin the horizontal corridor between Bollinger bands (1.2177-1.2642). ADX is very weak and corrective that’s why we are not expecting any changes today.

Pound. Boring Ending of the Week

Н4: Let’s look at the non-targeted flat area within Bollinger envelopes (1.2378-1.2505, yellow area). ADX is still passive, so breakthroughs of the corridor are not expected.

Pound. Boring Ending of the Week

Н1: and the more limited area 1.2422-1.2472. The situations on all three frames are similar, it is a boring ending of the week.

Pound. Boring Ending of the Week

Expectations: So, expect flat in the horizontal corridor 1.2422-1.2472

Trading solutions: do not trade (or you might trade with caution in both directions from the specified range)

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