Bears are strong | 04 May 2016
04 May 2016, GBP/USD
Four-hours chart of GBPUSD. Bears run a brilliant counterattack, which destroyed all fortifications of bulls located just under (8/8). The price left overboughtness zone, which is a strong signal of reversal of the current price movement. Now on the local level we can expect an upward pullback to the weekly SuperTrend line, from which bears are most likely to show their sharp teeth again.
Trading solutions: the target for purchases has been reached. Now we shall look for sales on a pullback to the weekly 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.
