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Bulls are holding their positions

Bulls are holding their positions | 22 April 2016

22 April 2016, GBP/USD

Bulls are holding their positions

Four-hours chart of GBPUSD. At at the second attempt, buyers had tried to cross the main resistance level (8/8). The price had entered an overboughtness area and quickly left it, whereupon it pulled back to (7/8) again. Nevertheless, buyers managed to keep the support area. So far, our main expectation is growth of the pair. Target for growth is the level of (-1/8), from where we expect the price to rollback. This option will be canceled if the price consolidates below the four-hours SuperTrend Line

Trading solutions: buy from the four-hours SuperTrend Line

Nikolay Krishtopov
FreshForex Analyst
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