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Correction has approached to the 1st resistance level

Correction has approached to the 1st resistance level | 03 June 2015

03 June 2015, GBP/USD

Correction has approached to the 1st resistance level

4 hours’ chart of GBPUSD. The pair is in correction and had a little to do to reach the target based on the main support and resistance level (4/8). At present moment, the pair is testing the point (6/8), from which we are to expect descending movement with the same target as on the level (4/8). Further options of ascending movement can be discussed only upon consolidation above the point (6/8).

Nikolay Krishtopov
FreshForex Analyst
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