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Potential for growth

22 July 2016, GBP/USD

Potential for growth

Four-hours chart of GBPUSD. The pair continues to consolidate within the narrow range around (2/8). The global trend is downward. However, at the local levels there are prerequisites for growth of the pair. Today we regard growth as the main plan. Its target is the level of support / resistance (4/8) (today this goal will hardly be reached), but it is important to understand that to achieve this level, bulls need to consolidate above another very strong level (3/8)

Trading solutions: buy from current levels. Put Stop Loss on the four-hours Supertrend line; goal is 1.3672 (4/8).

Nikolay Krishtopov
FreshForex Analyst
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