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We expect the price at (6/8)

We expect the price at (6/8) | 05 May 2016

05 May 2016, GBP/USD

We expect the price at (6/8)

Four-hours chart of GBPUSD. The pair has reached the level of support almost without pullbacks. This support is represented by the line of Daily SuperTrend. As you can see, buyers managed to hold this level, but the current growth is only a correction against the downward movement of the last two trading days. The medium-term priority is still a decline. Therefore, slightly above the four-hours SuperTrend Line we expect sellers to take the initiative and a new descending wave would start.

Trading solutions: we are looking for sales slightly above the four-hours SuperTrend Line

Nikolay Krishtopov
FreshForex Analyst
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