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Flat in the channel (3/8 - 5/8) continues

Flat in the channel (3/8 - 5/8) continues | 31 July 2015

31 July 2015, GBP/USD

Flat continues

The four-hours' chart of GBPUSD. So far, no significant changes. The pair continues to move within the horizontal channel with boundaries 1.5503 (8.3) and 1.5747 (5/8). Continuation of price movement within the channel remains to be the primary plan. At the same time, taking into account duration of being in the channel, we can say that leaving this channel, the price will give us an important prognostic event. I.e., breakthrough and consolidation above the (5/8) would open the way to the mark (8/8). Breakdown and consolidation under the level (3/80) would open the way to the mark (0/8).

Nikolay Krishtopov
FreshForex Analyst
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