Growth from current levels is possible | 04 August 2015

04 August 2015, GBP/USD

The daily chart: taking into account the last configuration of the downward swing and formation of impressive Inside bar yesterday, there are all signs for growth and breakout to new Highs (above the last top of 1.5688).

Growth from current levels is possible

Hourly chart still a local descending structure. Just one point was not enough for us in our yesterday's Limit order to buy under the pattern of O & U, so growth is still possible and it will take place from the current levels.

Growth from current levels is possible

Scenarios:

1) Back to 1.5568 area, and a new phase of growth.

2) Growth from current levels.

Trading solutions:

1) Purchase from 1.5568.

Aleksey Panasenko
FreshForex Analyst
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