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Expecting the price at (4/8)

30 August 2016, GBP/USD

Expecting the price at (4/8)

Four-hours chart of GBPUSD. The pair continued to move lower and has reached a rather strong support area formed by the SuperTrend Daily line and the level (2/8). We have already seen quite a strong rebound from this area, so we can count on a similar reaction today. The main support and resistance level (4/8) serves as the target for growth.This option will be canceled by breakdown and consolidation of the pair below the SuperTrend Daily line. In this case, we will be expecting a deeper drop with a view on (0/8)

Trading solutions: none

Nikolay Krishtopov
FreshForex Analyst
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