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The pair has managed to hold positions above (2/8)

The pair has managed to hold positions above (2/8) | 12 October 2016

12 October 2016, GBP/USD

The 4 hours' chart of GBPUSD. The pair has forced the local Low at 1.2207 (2/8), but bulls managed to quickly recover the situation, and the price has again returned to 1.2207 (2/8). The main option is continuation of movements within a broad flat range with 1.2207 (2/8) and 1.2451 (3/8) as its borders. As part of this plan, we now expect the pair to get to the top of the range. This option would be canceled by breakdown and consolidation of the pair higher or lower borders of the channel.

Trading solutions: none

Nikolay Krishtopov
FreshForex Analyst
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