Bulls dominate

29 April 2016, GBP/USD

Four-hours chart of GBPUSD. This pair sticks to our expectations, too. Bulls managed to keep the price above the four-hours SuperTrend Line, from where it had resumed the upward movement. Goal at the major level has been reached, but buyers are not going to dwell on this. They will try to break into the overboughtness zone and gain a foothold there. Goal is (+ 1/8), but today it is unlikely to be reached. Most likely, the price will test this mark at the next level.

Trading solutions: In general, you can hold yesterday's purchases for longer time. Those who do not like to roll the position through the weekend, are better to close by the end of the day, as it is likely that the price will continue to grow throughout the day.

Nikolay Krishtopov
FreshForex Analyst
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