Bulls kept the price

18 April 2016, GBP/USD

The four-hour chart of GBPUSD. Bulls managed to keep the price from a deeper decline. The local support area is (4/8). Now the price is testing the given area, from which we are waiting for the upward rebound of the price and growth to the level of (6/8). Maybe, bulls can pull the price even higher. If bulls will not be able to hold this area, in the near future we will see the price at the level of (2/8), which, as we mentioned in previous reviews, is the key defense level for bulls.

Trading solutions: buy after the break and return above the level of 1.4160

Nikolay Krishtopov
FreshForex Analyst
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