Descending structure dominates | 14 October 2015

14 October 2015, GBP/USD

The daily chart: yesterday we had a promising beginning of a new downward swing. Probably, we expect movement under the last bottom (1.5106). Chance of bears in such a situation is only in double bottom (see red arrow)

H1 chart: similar picture- a high probability of working out the downtrend. But we can not exclude a deeper correction to 1.53.

Expectations: So, we wait for a decline to the area 1.5106

solutions: 1) We sell to 1.51 and 1.5050

Aleksey Panasenko
FreshForex Analyst
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .