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GBP/USD 4 hours chart pull back
Tuesday, July 21, 2015 3:41
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Trend is bullish in 4 hours chart of GBP/USD currency pair. Since last week, price is showing signs of selling pressure and market is probably going to drop towards 1.5461 which is a 0.618% Fibonacci retracement level. Based on Elliott wave analysis, price could also drop further towards 1.5403 level which is 0.786% Fibonacci retracement level. To me; this is just a pull back in an up trend which offers a buy trade setup to join an up trend in GBP/USD currency pair.
Source: http://www.fxinstructor.com/blog/gbpusd-4-hours-chart-pull-back
