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Pressure remains

Pressure remains | 17 August 2016

17 August 2016, GBP/USD

Four-hours chart of GBPUSD. The pair continued movement under the alternative scenario: broke through the level (2/8), and reached the resistance - SuperTrend Daily line. Given the fact that the price has already passed quite a noticeable distance and reached a fairly strong resistance level, with the dominant downtrend, we may expect a downward rebound from current levels and further development of the downward movement. We also cannot exclude continuation of the upward movement, because now the pair is above the local support levels formed yesterday.

Trading solutions: none

Nikolay Krishtopov
FreshForex Analyst
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