Dual situation | 26 August 2015

26 August 2015, GBP/USD

The daily chart: Now, swing down just started to form, so it is possible that the next two days the pair will go down in preparation for the northern momentum. It is clear that bulls need to protect the area of ​​the last day (1.5561)

Dual situation

H1 chart: the structure looks already ready for a new upward swing, which does not correspond well to the daily chart.

Dual situation

Scenarious:

1) Growth from current levels to break above 1.5819 2) If the price gets under support 1.5679 - decline to 1.5600-1.5629.

solutions: 1) Buy from the current levels with a short stop set at 1.5679 with objective 1.5819. 2) In the case of withdrawal under 1.5679, refrain from trading until the formation of the daily downward swing. (either trade within that swing down to H1).

Aleksey Panasenko
FreshForex Analyst
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