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.
