A downward rollback

03 August 2016, GBP/USD

The 4 hours' chart of GBPUSD. Given the current volatility, the pair surged highly. The important resistance level 1.3300 was broken. But we should not expect an upward movement without rollbacks. The most likely option is a downward rollback to (2/8), and from this level the upward movement will be resumed with a view to a very important level of resistance (5/8). Break of this level will open the way for bulls for further growth. In general, bulls managed to stop decline and now they are trying to reverse the situation. They have gained a certain success.

Trading solutions: no

Nikolay Krishtopov
FreshForex Analyst
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