The initiative is on the sellers side

08 April 2016, GBP/USD

Four-hour chart of GBP USD. The pair has bounced down off the main level of support and resistance. Yesterday pointed out how important it is to keep this level for sellers. Medium-term goal of a deeper drop is the main support level (0/8). For buyers, the situation remains the same. Only consolidation above the level (4/8) will bring them success, but so far this option is far from being real

Trading solutions: We had a little to pass for to the entry point on the fourhours line of Supertrend. Maybe, someone did a little lower level (4/8), in this case they can still hold their position

Nikolay Krishtopov
FreshForex Analyst
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