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The pair has thoroughly entrenched itself in the overboughtness area

The pair has thoroughly entrenched itself in the overboughtness area | 20 August 2015

20 August 2015, GBP/USD

thoroughly entrenched

The four-hours' chart of GBPUSD. The pair has thoroughly entrenched itself in the overboughtness area. It is primarily characterized by the fact that resists by its entire area, so the upward movement is often accompanied by a local pullback down. The ultimate goal is the level (+2/8), after crossing which the price will be going to redraft Murrey levels .

Nikolay Krishtopov
FreshForex Analyst
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