The pair remains within the correction

05 August 2015, GBP/USD

The pound can not overcome the resistance level, formed by the ending point of the supposed wave 1.

We observed rebound from this level, and the price may continue to decline.

However, until that happens, buyers save chances to rectify the situation and resume the same impulse movement in the upward direction.

Nevertheless, you are advised to open a Buy deal on breakthrough of this resistance level.

 A pair remains in a correction.

Vasiliy Lukin
FreshForex Analyst
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