manager photo
Ask a question
We will be pleased to answer any questions you may have
Write Call
Close
Log in

The pair has left overboughtness area

20 May 2015, GBP/USD

The pair has left overboughtness area

4 hours’ chart of GBPUSD. The pair has forced the level (8/8) and has left overboughtness area. This is a pivot point and, as a rule, it tells about reversal of trend or at least about a vey strong pullback of price. As of now, we expect further decline of price with the first target based on the level (2/8). The level (4/8) can be considered as the middle-term target.

Nikolay Krishtopov
FreshForex Analyst
See also:
Agree with the review?
Traders' opinion:
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .