18 Agustus 2015, GBP/USD
The daily chart: Bears work on some semblance of a double top, the structure has not been able to get a directional character. Decline to the last bottom (1.5420) is likely to continue.
H1 chart: top-down structure of the swings is being formed here. Turn of the bulls can be enabled by break of the local top 1.5595, thus they will receive a reversal O & U from 1.5575
Scenarious:
1) Continued decline below 1.55, with an eye on 1.5420.
2) Turn up in the event of rising above 1.5595.
solutions:
1) We sell in case of the inability to rise above 1.5595, with the target 1.5420
2) Buy from 1.5575 (in case of breaking above 1.5595). target 1.5675.