Classy bullish setup | 21 August 2015

21 August 2015, GBP/USD

The daily chart: a heavy bullish setup - the inside bar, then a false break-down and pinbar. From a technical point of view, the outcome in such cases can only be the upward movement. Try to buy in the area of ​​50% of the pin (1.5655) or below.

Classy bullish setup

H1 chart: in the local point of view, structure is non-directional, which also confirms the general expectation of the downward swing .

Classy bullish setup

Scenario: So, we wait for an unconditional growth of the pound in the direction of 1.58-1.59, but optimal - after a rollback to 1.5640-1.5650.

Solutions: 1) Buy around 1.5650 zone with the objectives to 1.58-1.59 (extraday).

Aleksey Panasenko
FreshForex Analyst
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