The pair has reached a strong resistance level

07 September 2016, GBP/USD

GBP/USD: pair has reached strong resistance level

The four-hours chart GBPUSD. The goal on the main resistance level (8/8) has been reached. But the price is quite seldom able to cross this level without pullback, so we wait for correction in the form of a downward pullback. Bulls have all prerequisites for further rising movement. So after apullback to the four-hours Supertrend line, we can see beginning of new rising wave and entrance to the oversoldness area with first goal (+1/8), and the next possible goal on (+2/8) .

Trading decisions: the goal 1.3428 (8/8) has reached and we can settle in profit

Nikolay Krishtopov
FreshForex Analyst
See also:
Agree with the review?
Traders' opinion:
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .
© 2004—2018 FreshForex – Forex broker
manager photo
Ask a question
We will be pleased to answer any questions you may have
Write Call