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Murrey levels were redrafted

Murrey levels were redrafted | 30 March 2016

30 March 2016, GBP/USD

Four-hours chart of GBP USD. Murrey levels were redrafted on the chart, they got narrower. The pair is currently testing strength of the main resistance level, from which the pair can roll back down, after this rally bulls need a break, too. We expect action of buyers from the four-hours' line of Supertrend. From this level of support we are waiting for a new upward wave and break of the level (8/8) from the second attempt. After that, the price will enter into overboughtness zone. To drop the price, bears must at least gain a foothold below the four-hours SuperTrend line

Trading solutions: buy from the four-hours Supertrend line

Nikolay Krishtopov
FreshForex Analyst
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