Bears took the lead | 23 May 2016
23 May 2016, GBP/USD
Four-hours chart of GBPUSD. Bulls failed to consolidate above the resistance level (8/8). Bears had run a successful counterattack and pushed through the local levels of support. Thus, the main option is decline, but we should not exclude a local corrective growth from the current position. Drop's goal is the main support and resistance level (4/8). Continuation of the medium-term upward movement is not relevant as long as the price is below the level of (8/8)
Trading solutions: sell in the event of a rollback to the SuperTrend weekly line (1.4611)
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.
