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Failed to hold its position in the overboughtness area

18 August 2015, GBP/USD

Failed to hold its position in the overboughtness area

Unable to hold its position in the overboughtness area

The four-hours' chaty of GBPUSD. The pair was not able to gain a foothold in the overboughtness zone. Theregore, our basic expectation now is its decline. The first objective for the drop is the intermediate level of support (6/8).Its medium-term target is represented by the main support and resistance level (4/8).Failed to hold its position in the overboughtness area

Nikolay Krishtopov
FreshForex Analyst
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