The level (4/8) is holding price

14 September 2016, GBP/USD

GBP/USD: Level (4/8)is holding price

The four-hours chart GBPUSD. Pair couldn’t hold above(6/8)level and have strong down pullback. On the currency level support to the price is the strongest level in the system(4/8)level. Price could go through this level for the first time so as a main we can observe possibility with strong upwards bounce from this level. As a nearest aim is a line of the four-hours Supertrand line. After breakthrough this level we can expect restart of the level (6/8). This possibility would be canceled if price brakes through this level and consolidate under (4/8) level.

Trading decisions: buy from currency levels with aim on level 1.3306 (6/8)

Nikolay Krishtopov
FreshForex Analyst
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