Buyers are trying to take the lead | 11 May 2016
11 May 2016, GBP/USD
The four-hours chart of GBPUSD. Bulls managed to hold the price above the intermediate support level (6/8), and now they dragged the price to the first significant local resistance level formed by the Supertrend lines. The probability of breakdown of the level from bottom to top is rather high. Therefore, now the basic version is surge to (7/8) followed by resumption of the downward movement that in medium run.
Trading solutions: close sales before open and look for new entry points on to the level of (7/8).
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.
