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The pound has a chance to rebound

25 September 2015, GBP/USD

Decline in this pair continued, which led the price to a critical level, the breakdown of which canceled the considered scenario.

However, the downward movement was rather smooth without significant pullbacks, so the the price is likely either to bounce off local Low, or develop the wave iii of upward impulse.

Thus, there is a good opportunity to make purchases with a good risk/profit ration, which you should use.

Basis on this, I opened a Buy trade.

The pound has a chance to rebound

Vasiliy Lukin
FreshForex Analyst
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