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Pressure remains

Pressure remains | 29 June 2016

29 June 2016, GBP/USD

Four-hours chart of GBPUSD. Sellers pressed buyers. Bulls can not run an efficient correction and gain a foothold above the fourhours' SuperTrend line. On a strong downtrend, it is quite a significant resistance level, so from the current position we expect a new descending wave. The next target is (2/8). In the case of its breakdown we expect a deeper decline. Given width of the levels, the goal is designated at (1/8). Taking into account fundamental and technical picture, growth of the pair is not considered

Trading solutions: no

Nikolay Krishtopov
FreshForex Analyst
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