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Waiting for a further decline

Waiting for a further decline | 06 July 2015

06 July 2015, GBP/USD

Waiting for a further decline

4 hours’ chart of  GBPUSD. The pair is still consolidating in a very narrow range just below the main level of support and resistance  (4/8). Additional resistance of the pair is provided by 4 hours’ Supertrend line (4/8). The point (2/8) is still the target for decline. This scenario will only be cancelled by return and consolidation of the price above the level (4/8).

Nikolay Krishtopov
FreshForex Analyst
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