We should sell after formation of the local upward swing | 28 October 2015

28 October 2015, GBP/USD

The daily chart: the downward swing continues to stretch further and we still do not see any signals to its end. We expect continuation of movement in the zone of 1.5159

H1 chart: the local upward swing has not yet been completed. Once this happens, bears will again be ready to finalize the "bottom". Indicative area to start a new swing down is 1.5339.

Expectations: touch of zone 1.5339 and beginning decline under 1.5281, towards 1.5159.

solutions: We sell from 1.5339 to 1.5280, 1.5159

Aleksey Panasenko
FreshForex Analyst
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