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GBP/USD achieved the strongest level in the system

GBP/USD achieved the strongest level in the system | 10 June 2016

10 June 2016, GBP/USD

GBP/USD achieved the strongest level in the system4-hourly chart for GBPUSD. After the breakdown of the intermediate support level (6/8), the pair followed the script with a reduction in the main support / resistance level (4/8). It is the strongest level in the system, so the bears are unlikely to break this level immediately. From the current levels the bulls could seize the initiative again in the short period of time. So, today we can wait for increase of the currency pair from this strongest level. The nearest target for growth is located on the four-hours SuperTrend line. If the bulls managed to make a (4/8) level breakthrough, this scenario would be canceled. Trading solutions: none

Nikolay Krishtopov
FreshForex Analyst
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