24 Juli 2015, GBP/USD
Daily chart: a significant claim to make a downward reversal. Bears did not allow to form a new High and broken the bottom. Now they have a choice whether to continue forcing from current levels either regroup in one more ascending swing.
.png "Bears have taken over the advantage")
Hourly chart: here is a small bearish O&U from 1.5646. On the bottom, here is a preparation for a local bullish O&U (to implement it, bulls need to break above 1.5522). In this case, we will deal with micro Stops from 1.5520.
Should 1.5522 sustain, bears can break the bottom further.
.png "Bears have taken over the advantage")
Scenarios: 1) Decline under 1.55 and a more intensive drop 2) Growth towards 1.5646.
Trading decisions:
1) We shall prepare limit orders to wait for sales around 1.5646.
2) If O&U occurs on Н1, we shall buy from 1.5520 to 1.5640.
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