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GBP/USD. TF H4 – Break of the trend line, reversal?

Published 28.05.2014 at 11.45 AM.

According to the analysis made on May 20, 2014, the GBP/USD pair has the biggest correction. At present, we can see formation of the bearish wave 3 of (3). Pay attention to the break of the trend line H4 and development of the bearish channel. On the chart below you can see my expectations concerning further movement of the pair.

It is recommended to open short-term sell deals with SL at the level of 1.6830 and TP, at 1.6670.

For medium-term sell deals: TP1 – 1.6670, TP2 – 1.6570, SL – 1.6890.

Trade profitably! 

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