Hi friends,

Today I would like to share with you some interesting pattern on chart.

I am talking about GBPUSD, 4H chart timeframe.

From what I see, there were several attempts to push higher after the bullish divergence but the prices never made a real rally. Such divergence. tend to be broken, and I think if the divergence. line will be broken here, we might see a bearish wave down to 1.50 and then 1.48. This wave might last something like two weeks. The fact that the weekly chart still holds the bearish convergence, as I’ve explained on my last weekly review, just supports the expected bearish wave.

Here is my chart, click to enlarge:

Of course my bearish scenario might be ignored if the news published tomorrow will surprise with positive numbers.

Any comment or idea?

Feel free to share.

Yours,

Vladimir Ribakov
http://www.vladimirforexsignals.com/