Trying to gain a foothold in the overboughtness area | 03 May 2016
03 May 2016, GBP/USD
Four-hours chart of GBPUSD. Following to an extended consolidation, the pair has broken (8/8), and entered the overboughtness zone. Now it is trying to gain a foothold there. Ao far, bears have not bared their teeth. Therefore, growth of the pair is the main option. Goal is (+ 1/8). If the price returns below the level (8/8) and consolidates there, this scenario will be canceled.
Trading solutions: keep Buy trades. Those who are not in the market can enter from the four-hours Supertrend line.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
