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Correction is possible

Correction is possible | 12 July 2016

12 July 2016, GBP/USD

Four-hours chart of GBPUSD. Bulls managed to break through the defense line of bears on the four-hours SuperTrend Line, thus they have discovered new targets for a corrective growth. The next resistance level is at (2/8). We expect growth to this level and it will intensify actions of sellers. The trend is still descending. The current growth is nothing but a correction

Trading solutions: no

Nikolay Krishtopov
FreshForex Analyst
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