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Bears test main support level

Bears test main support level | 16 March 2016

16 March 2016, GBP/USD

Bears test main support level

The four-hours chart GBPUSD. Pair has risen yesterday aim on main support/ resistance level (4/8). Price now tries to consolidate under this mark. So bears can stablished there domination. I’ ve marked in last review that this is main level and if bears have broken this level through it will opened way for further price decreasing. Level on which bulls can return their positions was on (2/8) level. Buyers can have initiative if price could consolidate above (4/8) level, but it would be difficult.

Trading decisions: sell from the four-hours Supertrend line

Nikolay Krishtopov
FreshForex Analyst
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