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GBPUSD : Downtrend Continuation

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

  1. Sandra S.

    Sandra S. Forum Member

    Sep 1, 2015
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    GBPUSD has turned bearish in the last two weeks after only three wave bounce from 1.4893 to 1.5240 which was a corrective move; a zigzag. As such, we are bearish on GBPUSD and will expect more weakness after any pullback. At the moment trend is still down but wave 1 appears complete so be aware of a corrective bounce up into wave 2 that can be looking for a resistance near 1.5000 next week. GBPUSD, 4H

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