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Another attempt of bulls and then drop

Another attempt of bulls and then drop | 20 October 2015

20 October 2015, GBP/USD

The daily chart: So, we have a false breakdown of inside bar up, it's a good sign of decline (and Sell trades).

H1 chart locally we have quite good accumulation in favor of bulls, which can be distributed in the form of a new attempt to attack the upper wall of the IB (1.5485), however, we assume the scenario, underwhich buyers would fail and the pair would drop.

Expectations:1) Growth to the area of ​​1.5485, and then the intensive drop to 1.5430 2) Direct decline towards 1.5430, where there will be preconditions for break of the day IB down and, therefore, a further strong decline

solutions: Sales from the zone 1.5485 (better to wait Short signal on H1) to 1.5430 and 1.5250 (extraday)

Aleksey Panasenko
FreshForex Analyst
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