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Buyers couldn’t hold the main support level

12 September 2016, GBP/USD

GBP/USD: buyers couldn’t hold the main important support level

The four-hours chart GBPUSD. Buyers couldn’t hold price above medium support level (6/8). Loosing of this level is serious hit for bulls’ positions. Locally we could expect correction pair growth from recent levels but medium-term possibility is pair decrease. The nearest resistance level from what new decrease wave could be appeared is (6/8) level. This level has extra strengthen by the four-hours Supertrend line. This possibility would be canceled if bulls could return price on level (6/8) and consolidate there.

Trading decisions: no

Nikolay Krishtopov
FreshForex Analyst
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