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Wait for the correction

Wait for the correction | 09 June 2016

09 June 2016, GBP/USD

Wait for the correction4-hourly chart GBPUSD. Repeated attempt of bulls to break through to the main resistance level ended unsuccessfully. Bears made a successful counterattack. The local support level (6/8) is broken, and this situation opens the way for further reduction with whole at the top level of support / resistance (4/8). This trading scenario in main focus for today. It would be canceled , if buyers seize the initiative and return the price to (6/8) level. In this case, they will have a chance for another hike towards (8/8) level. Trading solutions: none

Nikolay Krishtopov
FreshForex Analyst
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