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Pressure remains

03 October 2016, GBP/USD

GBP/USD: Pressure on the pair is remaining

The four-hours chart GBPUSD. Pair couldn’t break through and consolidates above the line of the four-hours Supertrend line. After short consolidation price has broke through the main support level (0/8). Now situation isn’t good for buyers. The main possibility is pair decrease. The nearest aim locates on (-1/8) level. As the most perspective aim we can consider level (-2/8). This script would be canceled if pair returns above level (0/8) and consolidates here.

Trading decisions: no

Nikolay Krishtopov
FreshForex Analyst
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