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Bears took the lead

23 May 2016, GBP/USD

Four-hours chart of GBPUSD. Bulls failed to consolidate above the resistance level (8/8). Bears had run a successful counterattack and pushed through the local levels of support. Thus, the main option is decline, but we should not exclude a local corrective growth from the current position. Drop's goal is the main support and resistance level (4/8). Continuation of the medium-term upward movement is not relevant as long as the price is below the level of (8/8)

Trading solutions: sell in the event of a rollback to the SuperTrend weekly line (1.4611)

Nikolay Krishtopov
FreshForex Analyst
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