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The pair have settled in overbought area

13 May 2015, GBP/USD

The pair have settled in overbought area

The pair have settled in overbought area

4 hours’ chart of GBPUSD. There is a strong upward movement here, even the main resistance level(8/8) was not able to stop it. This pair has been passed bottom to top this level with first attempt and consolidate in overbought area. That's why way for next growthing is open now. Its target is (+2/8) mark. The support will be (8/8) mark, because it is with 4 hours’  line of SuperTrend.

Nikolay Krishtopov
FreshForex Analyst
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