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The price has reached strong support level

21 September 2016, GBP/USD

GBP/USD: Price has reached strong support level

The four-hours chart GBPUSD. Pair has consolidate under 1.3062 (2/8) level and continue decrease moving to the next even level 1.2939 (0/8). As we can see this level has practically reached. We can market that it is strong support level and price rare breaks through this level from the first try. From the current positions we can expect correction upwards pullback. The aim is intermediate resistance level 1.3062 (2/8), from this level we are waiting for beginning of new decrease wave.

Trading decisions: no

Nikolay Krishtopov
FreshForex Analyst
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