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The pair rebounded from the strong resistance area

The pair rebounded from the strong resistance area | 27 April 2016

27 April 2016, GBP/USD

Four-hours chart of GBPUSD. The target level (+2/8) has been reached. We should pay attention to the rebound from the resistance area formed by a rather strong main resistance level (8/8), and the Weekly SuperTrend line. Bears made it clear that they will vigorously defend this area and crossing it on the first try is unlikely for bulls. Decline of the pair remains to be the main plan

Trading solutions: all purchases must be closed at the level of (+2/8). You can try to sell from the Weekly SuperTrend line

Nikolay Krishtopov
FreshForex Analyst
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