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The price is approaching to the level of (0/8)

The price is approaching to the level of (0/8) | 18 January 2016

18 January 2016, GBP/USD

The price is approaching to the level of (0/8)

The four-hours chart of GBP USD. Meanwhile the pair is moving fully in line with our expectations. After a brief consolidation at the level of (2/8), the price continued movement in the direction of the existing trend. At the moment, the price stood around (1/8), but it is too early to talk about a reversal pattern, since we have no confirming signal. Main option is drop of the price to the main support level (0/8).

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Nikolay Krishtopov
FreshForex Analyst
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