GBP/USD: The downward trend continues

January 18, 2016

A downward trend is strong.

The downward trend continues forming within the third wave of the senior level iii of 3. At present, the third wave (iii) of the junior level seems to be forming and if the assumption is correct, the pair keeps falling towards the level of 1.4000. Critical for this scenario is the level of 1.4473, a breakout of which would allow the pair to grow to 1.4935.

Trading tips

Sell the pair below the level of 1.4473 with the target at 1.4000.

Alternative scenario

The breakout and consolidation above the level of 1.4473 would allow the pair to grow to 1.4935.

Publication source
LiteForex information  LiteForex reviews

October 27, 2016
Sterling falls notwithstanding UK GDP
On Thursday, the British pound sagged against the greenback, notwithstanding data on third quarter growth showing that Britain’s economy shrugged off the immediate shock of the Brexit referendum...
October 27, 2016
Dollar falters but strength remains ahead of jam-packed week
The US dollar has taken a bit of a breather this week as it consolidates its recent gains ahead of major economic data and events in coming days. For around a month, the greenback has been on an exceptionally sharp incline as expectations for a Federal Reserve rate hike this year have progressively increased...
October 27, 2016
Oil slides on OPEC uncertainty
WTI Crude received a pummelling on Tuesday with prices sinking below $49.50 after reports displayed an inflated rise in U.S inventories which revived concerns over the excessive oversupply in the markets...

FXCM Rating
OctaFX Rating
Grand Capital Rating
Vantage FX Rating
FIBO Group Rating
Orbex Rating

TopOption Rating
Beeoptions Rating
24option Rating
Binary Brokerz Rating
OptionRally Rating
Grand Option Rating