Trade corridor with clearly defined boundaries formed this week on GBP/USD
pair; support level
is 1.58673, resistance level
is 1.60209, so we will look for the signals to buy or sell directly at the approach to one of the boundaries of the corridor. Narrower corridor with support level
of 1.59406 and resistance level
of 1.59406 formed in parallel with the defined boundaries, so point to buy or sell can be found earlier, but I propose to open position not when a bound from boundaries of a smaller corridor will occur, but when a boundary is broken.
I trade using GBPUSD
trade corridor approach. Ranges of trade corridor are determined by last extrema on the hourly chart.