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Trying to consolidate just a little under the level (4/8)

03 July 2015, GBP/USD

Trying to consolidate just under the level (4/8)

4 hours’ chart of GBPUSD. The pair is still consolidating in a very narrow range just a little under the main level of support and resistance (4/8). 4 hours’ Supertrend line (4/8) performs as an additional resistance for the pair. The point (2/8) is still working as the nearest target for decline. This scenario will only be cancelled if the price returns and consolidates above the level (4/8).

Nikolay Krishtopov
FreshForex Analyst
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