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Pressure on the pair is still exerted

Pressure on the pair is still exerted | 07 July 2015

07 July 2015, GBP/USD

Pressure on the pair is still exerted

4 hours’ chart of GBPUSD. The pair was not able to break the main level of support and resistance  (4/8) from bottom to top. The price has bounced from this level down and now we are to expect its further decline with the nearest target based on the level (2/8) supported by weekly Supertrend line. This scenario will be cancelled by consolidation of the price above the level (4/8).

Nikolay Krishtopov
FreshForex Analyst
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