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GBPUSD : Correction Completed

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Oct 29, 2015.

  1. Sandra S.

    Sandra S. Forum Member

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    Pound is looking bearish against the USD after recent reversal down from above 1.5500 where market probably accomplished a three wave move up from 1.5100. Notice that price recently also took out the lower trendline of a corrective channel which suggests that continuation down is in play. A break beneath 1.5200 will be just another confirmation for a bearish price action, when we will get interested in wave 4 for shorts. GBPUSD, 4H

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