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We are waiting for further buyers activation

We are waiting for further buyers activation | 22 March 2016

22 March 2016, GBP/USD

We are waiting for further buyers activation

The four-hours chart GBPUSD. Bulls couldn’t hold price above (6/8) level. But it is early to make any conclusions from this break through and pair is continue to consolidate on this level. Possibility of pair growth is very large. Now for bulls it is important to break through and consolidate above the four-hours Supertrend line. In other case (if the price bounce down from the four-hours Supertrend line) you should look through the possibility of pair decrease to the main support/resistance level (4/8) in the limits of turn over pattern.

Trading decisions: buy after break through (6/8) level

Nikolay Krishtopov
FreshForex Analyst
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