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Do bulls still have potential?

Do bulls still have potential? | 12 April 2016

12 April 2016, GBP/USD

The four-hours chart of GBPUSD. As we expected, the pair broke a major support and resistance level (4/8). Bulls easily dragged the price to the next resistance level (6/8). Here we noticed an abrupt rebound of the price from this mark. Bears are going to defend this level and from current positions we may well see a pullback to the level of (4/8). So, new goals for growth will be opened if bulls manage to break through the level (6/8) and get above it.

Trading solutions: sales from current levels

Nikolay Krishtopov
FreshForex Analyst
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