The price continues to decline | 27 August 2015

27 August 2015, GBP/USD

The daily chart: Bulls after a seemingly confident and impressive break up, failed to keep the upward structure, while bears have not even fully formed a downward swing, but succeeded to break through just three recent bottoms, which, of course, has shaped a continued decline.

An extremely serious medium-term support is at 1.5327 zone. There you can get an amazing supposed risk to profit ratio at the opening of long positions.

The price continues to decline

H1 chart: an upward short swing has been already formed, so bears can act again.

The price continues to decline

Scenarious: So, we wait for the attack and breakthrough 1.5453, then 1.5422, and focus on 1.5327.

Trading solutions:

1) We should sell to 1.5422, 1.5330.

2) We shall wait with purchases around 1.5327

Aleksey Panasenko
FreshForex Analyst
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