An opportunity for correction | 07 Juli 2016
07 Juli 2016, GBP/USD
Four-hours chart of GBPUSD. Buyers managed to hold the price on (1/8). It is too early to talk about the reversal scenario, since we have no confirmation such as consolidation above the four-hours Supertrend Line or above (2/8). But from current levels, we may see a corrective pullback to the intermediate resistance level (2/8), everything at the local level. In the medium run, the downtrend is still in effect, so decline of the pair remains to be the core option. Reaching of the main support level (0/8) by the price is a matter of time.
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.
