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Pound is still under resistance level, will it break the level?

04 August 2015, GBP/USD

The resistance level formed on the edge of assumed wave 1, continues to restrain bulls steadily .

However, this can not last for long, finally bulls break this level and move upwards, either bears will break this level down and turn the price down further.

Now the preferred scenario looks bullish, cause wave analysis assumes a further abrupt impulse growth within the frames of development of the wave 3 of [iii].

In order to catch this movement but not to risk much in the event of error, you should try to set the pending Buy Stop order at 1.5695.

Vasiliy Lukin
Analyst of «FreshForex» company
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