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The local support was broken

The local support was broken | 20 July 2016

20 July 2016, GBP/USD

The four-hours chart of GBPUSD. The price broke support on the daily SuperTrend Line. Bulls could not keep this local important level to them and the level has now re-opened the way to Lows of the year. But in the medium run, on the local level, we can now see this corrective growth and retest of (2/8) from the back side, and only then a start of a new descending wave. Today this is the main plan.

Trading solutions: It is better to settle in a small profit at current levels, as there is a high probability of an upward rollback, at which point we can find entry points in sales.

Nikolay Krishtopov
FreshForex Analyst
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