Categories: Forex Trade Updates

GBPUSD is about to break down?

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/

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Vladimir Ribakov

Following 11+ years of trading experience, trading my own accounts as well as for hedge funds and brokerages, I have decided to fulfill my destiny and to personally mentor Forex and Commodities traders. When I released the “Broker Nightmare” (software that hides trades from brokers) 8 years ago, I found an overwhelming number of frustrated people who genuinely wanted to learn how to trade the Forex market, but instead found themselves scammed and misled. Over the years I have also release other trading systems based on my trading strategies, and met a lot of people on my worldwide Forex seminars. We’ve formed a close Forex community and we meet once or twice a year in various locations in Europe.

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