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Price is moving to the (0/8) level

10 August 2015, GBP/USD

Price is moving to the (0/8) level

Price is moving to the (0/8) level

The four-hour chart of the GBP/USD. After this the pair broke the horizontal (3/8 – 5/8) channel, the main scenario is the pair decrease towards the main (0/8) support level. And now the pair is doing that. This current rollback from (1/8) turning level is a correction, not a beginning of pivot.

Nikolay Krishtopov
FreshForex Analyst
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