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GBP/USD Bottom pattern in 4 hours
Monday, January 4, 2016 10:06
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Trend is bearish in GBP/USD currency pair in 4 hours time frame. Short term resistance is present at 1.5334 price level. Based on Elliott wave analysis, I expect a bullish break out in price action above 1.5334 price level in coming trading days. A good idea is to wait for a bullish breakout and then look for a possible buy trading chance. However; if price just keep falling down then I will stay out of the market and re-analyze the price action of GBP/USD currency pair.
Source: http://fxinstructor.com/blog/gbpusd-bottom-pattern-in-4-hours
