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The level (0/8) has held the price

28 September 2016, GBP/USD

GBP/USD: Level (0/8) has held price

The four-hours chart GBPUSD. Buyers have protected the main support level 1.2939 (0/8) and pull back price from this level. As a result strong support area has formed above 1.2939 (0/8) level we can expect pair growth from this level. The nearest aim for growth locates on the intermediate resistance level 1.3062 (2/8). This possibility would be canceled if pair breaks through and consolidate into the oversold area.

Trading decisions: buy from the four-hours Supertrend line 1.2979 with aim on level 1.3062 (2/8).

Nikolay Krishtopov
FreshForex Analyst
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