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Pair couldn’t break through level (5/8)

Pair couldn’t break through level (5/8) | 09 March 2016

09 March 2016, GBP/USD

Pair couldn’t break through level (5/8)

The four-hours chart of GBPUSD. Pair couldn’t break through level (5/8) so further price movement could be in horizontal range (3/8 – 5/8). At the moment pair tests main support/resistance level (4/8) from which we are waiting for upper bounce. If it breaks through of this level we will get second signal for beginning moving into horizontal range and this possibility will be main. Now we are waiting for price reaction on (4/8) level.

Trading decisions: no

Nikolay Krishtopov
FreshForex Analyst
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