manager photo
Ask a question
We will be pleased to answer any questions you may have
Write Call
Close
Log in

The price is in the overboughtness area again

31 May 2016, GBP/USD

 The four-hours chart of GBPUSD. Bulls took an advantage of the situation and the price returned to the overboughtness area. Thus we can talk about continuation of this upward movement. The final goal here is the upper border (+2/8). Upon reaching this level, the price will redraft Murrey levels and thus we can consider the medium-term objectives.

Trading solutions: You can try to buy from current levels with a very short Stop Loss just outside the four-hours SuperTrend line. The nearest goal is 1.4771 (+2/8)

Nikolay Krishtopov
FreshForex Analyst
See also:
Agree with the review?
Traders' opinion:
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .