Waiting for purchase within the bullish O&U | 19 August 2015

19 August 2015, GBP/USD

The daily chart:: an aggressive puncture of the last Top confirms the overall bullish momentum. Because of the "torn" structure, bulls will spend a long time to build the general growth, but the nature of the situation is clear.

Waiting for purchase within the bullish O&U

H1 chaty: a good bullish Over & Under from the zone 1.5575. So we had to wait at any time for rollback down to this area.

Waiting for purchase within the bullish O&U

Scenarious: in general we expect growth, but there are prerequisites for a long rollback down in the zone 1.5575. Therefore, I do not advisebuying earlier than a pullback would happen.

Solutions:

1) Buy Limit order 1.5580, Stop order 1.5550, TP 1.1.5780.

Aleksey Panasenko
FreshForex Analyst
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