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The pair has entered the overboughtness zone

The pair has entered the overboughtness zone | 27 April 2015

27 April 2015, GBP/USD

The pair has entered the overboughtness zone 4 hours’ chart of GBPUSD. Main resistance level (8/8) was not able to work for the pair. The pair has entered overboughtness zone. At present, the level (+1/8) has been reached, from which we can expect pullback to the point (8/8). In its turn, it retains the price from leaving from the overboughtness zone. At the same time, this level is the one from which we can expect renewal of growth with the target based on the point (+2/8).

Nikolay Krishtopov
FreshForex Analyst
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