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Bears are starting a counter-attack

Bears are starting a counter-attack | 15 March 2016

15 March 2016, GBP/USD

Bears are starting counter-offensive

The four-hours chart GBPUSD. In last analysis, we marked importance of (6/8) level for bears. As we can see they has caught the initiative. Result of decrease was break through of the four-hours Supertrend line. And it is could change possibility of continuing further local price rising. Nest level on which bulls can resistance was the main support/resistance level (4/8). This is the strongest level in the system and it is important for bulls and bears.

Trading decisions: if you opened short yesterday it is possible to fix some part of sells. New entrance points looking into fore-hours Supertrand line.

Nikolay Krishtopov
FreshForex Analyst
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