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Neared a very strong resistance level

Neared a very strong resistance level | 20 April 2016

20 April 2016, GBP/USD

Four-hour chart of GBP USD. The pair continued its growth with no pullbcks. But now, as we can see, the price got stuck on the strongest resistance level (8/8). From this level, there was a strong downward rollback. The price has neared a very strong mark that bears will vigorously defend. As for the support, this time we do not regard the four-hours SuperTrend line, which is likely to be forced down fast enough, but the level (6/8). On a rollback the price will stop at this level

Trading solutions: Those who did settle profit in the yesterday's trades, shall do that now and look for an entry point into a short itrades on a rollback to the level of (8/8).

Nikolay Krishtopov
FreshForex Analyst
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