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GBPUSD : Downtrend Continuation

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Dec 22, 2015.

  1. Sandra S.

    Sandra S. Forum Member

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    GBPUSD fell to a new low last week as expected, after only three wave bounce from 1.4893 to 1.5240 which was a corrective move called a zigzag. As such, we are bearish on GBPUSD and will expect more weakness after any pullback. At the moment trend is still down so wave 1 can be unfolding towards 1.4800, but we think that sooner or later new correction will occur; probably up into wave 2 that can be then looking for a resistance near 1.5000. GBPUSD, 4H

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