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Buyers are trying to take the lead

11 May 2016, GBP/USD

The four-hours chart of GBPUSD. Bulls managed to hold the price above the intermediate support level (6/8), and now they dragged the price to the first significant local resistance level formed by the Supertrend lines. The probability of breakdown of the level from bottom to top is rather high. Therefore, now the basic version is surge to (7/8) followed by resumption of the downward movement that in medium run.

Trading solutions: close sales before open and look for new entry points on to the level of (7/8).

Nikolay Krishtopov
FreshForex Analyst
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