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Movement within a horizontal channel continues

05 August 2015, GBP/USD

The movement continues in a horizontal channel

The four-hours' chart of GBPUSD. The pair is still based in a horizontal channel with the borders 1.5503 (3/8) - 1.5747 (5/8). Currently the pair is heading for the bottom border of the channel. Nevertheless, while the price is held above, extension of the flat status is our primary expectation. Breakthrough and consolidation of the price on one of the borders of the channel would change this scenario.

Nikolay Krishtopov
Analyst of «FreshForex» company
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