Swing scenario for pound on Monday | 16 November 2015

16 November 2015, GBP/USD

Daily chart: dense pivot area 1.5240-1.5263 is still holding back bulls, although we should give a proper respect to them - they were able to raise Friday's Close a little more, which gives them a chance for a further breakthrough. No clear signal of price action to sales as well, so aggressive bears are likely to be forced to trade the "level".

H1: bearish setup - Over&Under pattern - with the entry point around 1.5242-1.5245 and stops above the last Top (1.5263)

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Expectations:

1) Touch of the zone 1.5242-1.5245 and fall under 1.5186 and 1.5173. 2 ) A break above 1.5263 - growth to 1.5327.

solutions: 1) Sales from 1.5242 -1.5245 to 1.5173 and 1.51. Stops above 1.5263. 2) Buy on breakdown of 1.5263 to 1.5327

Aleksey Panasenko
Analis perusahaan "FreshForex"
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