Beginning of a strong decline | 21 October 2015

21 October 2015, GBP/USD

The daily chart: here are two consecutive false upward breakouts areas of IB - it's definitely a strong southern karma. We expect beginning of a strong decline toward 1.5159

H1 chart:phase of the upward swing, and right now, after close of the next hour bar, the market will provide entry points down.

Scenario:So, we wait for touch of zone 1.5440-1.5460 and sell towards 1.5160 (target is not intraday's one).

Solutions:

1) sell from 1.5440-1.5460 to 1.5160.

Aleksey Panasenko
FreshForex Analyst
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