Left the overboughtness area | 01 April 2016

01 April 2016, GBP/USD

Four-hours chart of GBPUSD. The price has failed to retest the level (8/8): bulls were unable to gain a foothold in the overboughtness zone. Now for the second time the price is testing support - the four-hours SuperTrend line. There are more chances to pass this level at the second attempt, and bears can drag the price to the next support at the level of (6/8). Growth will be relevant only if bulls manage to gain a foothold above the level of (8/8)

Trading solutions: Basically, you can keep Sale orders with the view to the level (6/8), there are all signs of further drop, but given the current news background it is better to close the gap


The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
Nikolay Krishtopov
FreshForex Analyst
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