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The price is rising to the strong resistance level

05 September 2016, GBP/USD

GBP/USD: price is rising to the strong resistance level

The four-hours chart of GBPUSD. Pair continue rising moving. On the current moment the main resistance area for price is located on turn back level 1.3367 (7/8). Further pair growth is possible after pullback and price consolidation above this level. Anyway pair couldn’t immediately go through this level, so the main possibility is pair growth up to 1.3367 (7/8) level and further down pull back from this level. The nearest support level is on the four-hours Supertrend line.

Trading decisions: no

Nikolay Krishtopov
FreshForex Analyst
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