The initiative belongs to sellers | 06 مايو 2016
06 مايو 2016, GBP/USD
Four-hours chart of GBPUSD. The pair continues to consolidate on the Supertrend Daily line. As long as the initiative belongs to sellers, we have no preconditions for an upward reversal. The local level of support is likely to be crossed today and the price will continue its further downward movement. The next stop would be the intermediate support level (6/8). But the medium-term outlook suggests level of support and resistance (4/8) as the goal of drop.
Trading solutions: look for sell opportunities slightly above the four-hours Supertrend Line
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
