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The pair has consolidated in the overboughtness area

17 August 2015, GBP/USD

The pair has consolidated in the overboughtness area

The four-hour's chart of GBPUSD. The pair broke the level 1.5625 (8/8) from the bottom to the top and has consolidated in the overboughtness area. Accordingly, now the level of the resistance (8/8) turns into support level that would restrict exit of the price from the overboughtness zone. As the main option, we consider growth of the pair to 1.5747 (+2/8).

Nikolay Krishtopov
FreshForex Analyst
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