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A deeper drop

A deeper drop | 07 April 2016

07 April 2016, GBP/USD

The four-hours chart of GBP USD. The pair reached the target level (2/8) and quickly bounced off it. At the same time, it has reached the next and very important level for correction (4/8). At the moment, it is the key level for sellers and if they can hold it, we can see the price at the level of (0/8) in the medium run. The nearest goal is the level of (2/8). To resume the upward movement, buyers need to be consolidate above the level (4/8), only in this case we can seriously consider growth of the pair.

Trading solutions: sales from the four-hours SuperTrend line

Nikolay Krishtopov
FreshForex Analyst
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