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Tuesday, 10 November 2015

GBP/USD H4









General overview for 10/11/2015:

Despite the recent bearish breakout to the downside the current wave development might still evolve into more complex wave 2 green structure in shape of a Running Flat correction. Please notice that any breakout higher above the golden trend line will change the view temporary and breakout above the demand breakthrough zone will change the view permanently and invalidate the green impulsive count.

Support/Resistnace:
1.5512 - 1.5480 - Demand Breakthrough Zone
1.5285 - WR1
1.5155 - Weekly Pivot

Trading recommendations:
Due to the recent fundamental and technical developments selling the rally's up seems to be the best way to trade this market until proven otherwise.


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