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Trying to consolidate under (4/8)

Trying to consolidate under (4/8) | 01 October 2015

01 October 2015, GBP/USD

The pair is trying to gain a foothold below (4/8)

The four-hours chart of GBPUSD. The main support and resistance level (4/8) has been broken, now the pair is trying to gain a foothold under this level. If it succeeds in this task, in the near future we expect this downward movement to continue. Deep correction can only be discussed if the price consolidates above the four-hours SuperTrend Line.

Trade solutions: close earlier opened short positions.

Nikolay Krishtopov
FreshForex Analyst
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