GBPUSD_chart 26.11GBP/USD H4 chart shows us ongoing, flat correction. In broader horizon we are in the downtrend. Currently, price approaches resistance zone, where we can observe candles with long upper wicks. It shows, that rate may not have enough strength to go higher.

Our trendline is another argument which indicates losses – it is precise almost to the pip.

GBPUSD_screen 26.11

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Member and editor of Finance Magnates - the biggest FX, and binary options B2B website. A graduate of the University of Economics in Krakow, active publicist since 2012. Technical analysis is always more important to him than the fundamentals – however, he does not reject the importance of macro data. As he assumes that, the simpler the better, he is a strong fan of Price Action trading strategy and Fibonacci retracements.