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Continued drop

24 May 2016, GBP/USD

Continued drop

Four-hours chart of GBPUSD. The initiative still belongs to sellers. Support is the SuperTrend Daily line. But this level is not very important for bulls, so, most likely, it will be crossed. The main support and resistance level 1.1404 (4/8) is the next goal for a drop.

Trading solutions: So far, we have good entry points. As before, the closest one is very high, at 1.4611 (the weekly SuperTrend line).

Nikolay Krishtopov
FreshForex Analyst
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