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A deeper drop

16 May 2016, GBP/USD

Four-hour chart of GBPUSD. Bears managed to push the support level (6/8), thereby discovering new targets for a drop. The nearest is (5/8), whereas the medium-term goal is the main support and resistance level (4/8). Resumption of growth is no longer a relevant option.

Trading solutions: lookfor sale pptions from the four-hours SuperTrend line. Those keeping sale trades can continue to hold their positions

Nikolay Krishtopov
FreshForex Analyst
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