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Unexpected growth

19 May 2016, GBP/USD

Four-hours chart of GBPUSD. After a fairly strong downward rebound of the price from (7/8), its yesterday's surge was quite unexpected. By now, the price had stopped at the resistance area formed by the weekly SuperTrenda line and the level (8/8). However, now bulls are strong enough and should be able to finaliza this area, thus opening a promising new target for growth. The downward movement will resume only after the break and consolidation of the price below the four-hours SuperTrend Line.

Trading solutions: look for buying options from the four-hours SuperTrend line

Nikolay Krishtopov
FreshForex Analyst
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