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Bulls are not giving up

21 July 2016, GBP/USD

Four-hours chart of GBPUSD. Buyers managed to break through resistance (2/8). This is a good signal of continuation of local upward movement. Target is (3.8), which in this case serves as a rather strong resistance. This option would canceled the by failure to hold above (2/8). Sell trades have now completely lost their relevance, at least at current levels, as bears did not manage to hold the price below (2/8).

Trading solutions: no

Nikolay Krishtopov
FreshForex Analyst
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