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Murrey levels are going to be redrafted

28 June 2016, GBP/USD

Four-hour chart of GBPUSD. The target (-2/8) has been reached, Murrey levels were redrafted as the confirmation of that. Now we see that the price has got stuck on (2/8). As long as this level is not broken, bulls have a chance for the upward corrective movement. If bears manage to force (2/8) down, the downward movement will be resumed and will target (0/8). But the medium-term movement has a downward direction.

Trading solutions: no

Nikolay Krishtopov
Analyst of «FreshForex» company
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