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Expecting the price on the level (8/8)

Expecting the price on the level (8/8) | 17 September 2015

17 September 2015, GBP/USD

We are waiting for the price on level (8/8)

The four-hours chart of GBPUSD. After a false breakdown of the support formed by daily and weekly SuperTrend line and level (6/8), the price back above the level, and continued its upward movement. Currently the pair is at the pivot level (7/8), but we can expect the reversal scenario and decline to the level (4/8) only if the price consolidates below the fourhours Supertrend Line. And now the main expectation is continuation of growth of the pair to the next target level (8/8).

Business solutions: Buy from the fourhours Supertrend Line

Nikolay Krishtopov
FreshForex Analyst
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