Forex Technical Analysis: Trend potential – Wait for Continued Consolidation by Friday

GBPUSD – FlatDaily chart: there is a certain narrowing of Bollinger bands but the range of envelopes (1.2275-1.2605) will apparently be maintained up to Friday changes by NFP release. Н4: more localized horizontal corridor is within the range of Bollinger envelopes (1.2407-1.2513). ADX is indifferent to unfolding events, so its shift beyond specified borders is not likely. Н1: there is certain consolidation within upper Bollinger envelope (1.2462-1.2542) Expectations: wait for a possible shift to 1.2542, after that the pair is likely to return to 1.2462. Solutions: Sell in the range of 1.2542 and 1.2462.
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