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Irresistible level

18 August 2015, GBP/USD

The pound continues to beat around the resistance level without any compelling arguments to overcome this vicious line.

This perseverance, though being admirable, shows that each time the attacker is weaker and is weaker. Eventually, all of this can turn into a sharp and prolonged movement in the opposite direction!

So far, this has not happened, so an opened Buy position is a chance for a good profit, especially since the trade has been in the black.

Thus, in this situation, I would recommend to refrain from trading, it better to wait when it gets clear.

Vasiliy Lukin
Analyst of «FreshForex» company
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