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Bulls failed to hold the price in the overboughtness area

Bulls failed to hold the price in the overboughtness area | 30 May 2016

30 May 2016, GBP/USD

Four-hours chart of GBPUSD. Bulls did not manage to hold the price in the overboughtness area, this is the first bell not in their favor. But the situation can still be rectified. To this end, bulls need to return the price to the overboughtness area and gain a foothold there. Let's see if they manage to do it. As for bears, to strengthen their positions, they must at least push the current level of support (Weekly SuperTrend line), which will open to intermediate support level (6/8) for them.

Trading solutions: wait until the situation gets clear

Nikolay Krishtopov
FreshForex Analyst
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