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Left the overboughtness area

Left the overboughtness area | 01 April 2016

01 April 2016, GBP/USD

Four-hours chart of GBPUSD. The price has failed to retest the level (8/8): bulls were unable to gain a foothold in the overboughtness zone. Now for the second time the price is testing support - the four-hours SuperTrend line. There are more chances to pass this level at the second attempt, and bears can drag the price to the next support at the level of (6/8). Growth will be relevant only if bulls manage to gain a foothold above the level of (8/8)

Trading solutions: Basically, you can keep Sale orders with the view to the level (6/8), there are all signs of further drop, but given the current news background it is better to close the gap

Nikolay Krishtopov
FreshForex Analyst
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