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The price is about to get oversold

The price is about to get oversold | 27 September 2016

27 September 2016, GBP/USD

GBP/USD: We are waiting price into the oversold area

The four-hours chart GBPUSD. Price hasn’t had important changes during last trading day. Pair is continuing consolidation on (0/8) level. Price goes to this level in second time. We haven’t seen breakthrough from this level. As the main possibility we are observe possibility with pair decrease. The nearest aim is on the oversold area it is (-1/8) level. This possibility would be canceled if price breaks through and consolidates above the four-hours Supertrend line. In this case as a priority we could consider possibility with further price moving into flat (0/8 – 2/8).

Trading decisions: no

Nikolay Krishtopov
FreshForex Analyst
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