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Correction is probable

08 July 2015, GBP/USD

Correction is probable

4 hours’ chart of GBPUSD. The pair has almost reached its nearest target on the level (2/8) and now we can expect a correctional pullback of the price upwards. The first target for a pullback is represented by a 4 hours’ Supertrend line. Only if this line is broken, we can rely on a deeper pullback of the price upwards. This scenario will be cancelled by consolidation of the price under the level (2/8).

Nikolay Krishtopov
FreshForex Analyst
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