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The price failed to stay in the oversoldness area

The price failed to stay in the oversoldness area | 22 January 2016

22 January 2016, GBP/USD

The price failed to stay in the oversoldness area

The four-hours chart of GBP USD. The pair broke major support level (0/8), but, as we see, it has failed to gain a foothold in the oversoldness area. The pair is currently testing the four-hours SuperTrend Line, from which we can expect a slight downward pullback aimed to retest the level (0/8). In its turn, we expect growth of the pair from the level of (0/8) with a view to the SuperTrend Day line.

Trade solutions : no

Nikolay Krishtopov
FreshForex Analyst
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