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In anticipation of drop

In anticipation of drop | 19 April 2016

19 April 2016, GBP/USD

A great start of decline was immediately stopped by buyers, who did not stop and continued to actively drive the price upward.

As a result, my trade could not be transferred into the black, the price reached the top of the assumed horizontal triangle, from which at the moment it is probably going to bounce.

We still expect resumption of drop targetting the bottom of a horizontal triangle.

Anticipating a rebound from the top of the triangle, I have open another Sell trade with quite big Stop Loss.

Vasiliy Lukin
FreshForex Analyst
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