Wait for the pullback down to buy | 13 August 2015

13 August 2015, GBP/USD

Daily chart: bulls are going to get the new maximum (breakthrough above 1.5690), that allows us to see the ascending structure of the chart.

Wait for the pullback down to buy

Hourly chart: very disappointing chart structure to trade - the growth goes without the forming of the clear three bar swing. Nothing to do but wait for it.

Wait for the pullback down to buy

Scenarios: so, wait for the growth with probable breakthrough above 1.5690, but we need the pullback swing. The optimum area is 1.5615.

Trading solutions:

1) In the case of the pullback down to 1.5615, buy with the target 1.5710.

Aleksey Panasenko
FreshForex Analyst
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