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GBP/USD Down trend in 15 Minutes Chart

Thursday, November 24, 2016 14:33
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(Before It's News)

11-25-2016 2-08-16 AMTrend is bearish in GBP/USD currency pair in fifteen minutes time frame. Short term resistance level is present at 1.2494 price level. Based on Elliott wave analysis, we have got a possible corrective bullish a,b, c Zig Zag pattern which looks complete. So, I expect price to drop now towards 1.2355 price level in coming trading hours.

A good idea is to look for a sell trade and join the down trend. However; if price of Cable manage to close a bullish candlestick above 1.2494 vital resistance level then I will stop myself from trading and stay out of the market.

Next, I will re-do my analysis in GBP/USD currency pair in 15 minutes chart.

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  • GBP/USD has been in really mix trend over the last few weeks, but now is looking like heading into bull area, so it will be interesting to see how it all pends out, but we just need to make sure we are careful with how we go about doing the work, it’s only then we should gain any sort of benefit and will be able to achieve success. I do it rather smoothly thanks to OctaFX broker with help of their swap free account and also getting daily market updates.

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