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Support has not been broken yet

09 July 2015, GBP/USD

Support has not been broken yet

4 hours’ chart of  GBPUSD. The pair tried to overcome support area formed by the level (2/8) and weekly Supertrend line on the fly, but has not succeed yet. There are low chances to do that from the first attempt taking into account the way made by the price without any pullbacks. So, the main plan is a correctional growth. Target is represented by the day Supertrend line. One more proof will be a breakthrough of 4 hours’ Supertrend line from bottom to top.

Nikolay Krishtopov
FreshForex Analyst
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