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Wait when the price reaches (6/8)

21 May 2015, GBP/USD

Wait when the price reaches (6/8)

4 hours’ chart of GBPUSD. The pair has broken the point (8/8) from top to bottom and consolidated below this point. This moment tells us about a downward reversal of price. Now the pair is based near the first line of resistance - 4 hours’ line of Supertrend. We can expect a further drop from current positions. Another option is growth to (8/8), from which the price is expected to bounce. The first target will be the point (6/8).

Nikolay Krishtopov
FreshForex Analyst
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