Continues to consolidate in the overboughtness area

24 August 2015, GBP/USD

Continues to consolidate in the overboughtness area

The four-hours' chart of GBPUSD. The pair continues to consolidate in the overboughtness zone. As we have noted earlier, this area has resisted by its entire area, so moving up is very difficult and is accompanied by numerous setbacks of the price down. However, as long as the pair is higher than (8/8) the primary expectation is growth of the pair. Target is the level (+2/8).

Nikolay Krishtopov
FreshForex Analyst
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