Buyers do not look persuasive | 19 Juli 2016
19 Juli 2016, GBP/USD
Four-hours chart of GBPUSD. The pair is still above the local level of support, which acts as the Superternd Daily line. But bulls failed to take advantage of this situation, they failed to push the price to the given level. Bears are increasing pressure on this level, and in the near future a breakdown of the level from top to bottom is likely. This is the basic scenario for today. It would be canceled if bulls manage to gain a foothold above the four-hours SuperTrend Line.
Trading solutions: sell from current levels, put a Stop Loss behind the four-hours SuperTrend Line. The nearest goal is at 1.2939 (1/8)
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.
