12 Agustus 2015, GBP/USD
Daily chart: the downward swing wasn’t formed and bulls make an active counter-attack. We can see a strong resistance zone in front (1.5675-1.6700), formed by many previous peaks.
Hourly chart: it is necessary full downward swing to grow. So to enter the buys we should wait for this swing and then buy to 1.57 when any price action signal is.
Scenarios: when any growth wait for the pullback down to 1.5560 and then buy if the direction to 1.57 (extraday)
Trading solutions:
1) Wait for the buy after the downward swing ending. It is dangerous to buy without this swing.