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Wait for a (4/8) level retest

12 August 2015, GBP/USD

Wait for a (4/8) level retest

Wait for a (4/8) level retest

The GBPUSD four-hour chart. The pair approximately reached its target at the main (4/8) level of resistance/support and rebounded from it. At this situation, this pair is likely to continue its growing with retest of (4/8) level. Then a strong rollback is expected to appear with nearest target at (2/8) level. If tis pair settles above (4/8), there will be another scenario.

Nikolay Krishtopov
FreshForex Analyst
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