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Still swinging

17 June 2016, GBP/USD

Four-hour chart of GBPUSD. Bears have succeeded to push the price to (-2/8) and as the result, Murray levels were redrafted. To date, the price is clamped in a horizontal channel (3/8 - 5/8). But we dare to suggest this flat movement won't be long. Growth is the main plan with the next target (6/8). Consolidation of the pair within a wide range (3/8 - 5/8) is considered by us as an alternative, which will be proved by rebound from (5/8).

Trading solutions: no

Nikolay Krishtopov
FreshForex Analyst
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