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Bulls are trying to win the earlier lost positions back

Bulls are trying to win the earlier lost positions back | 20 June 2016

20 June 2016, GBP/USD

Four-hours chart of GBPUSD. The pair surged and has almost reached the strongest resistance level (8/8). The price rarely crosses it on the first try, higher there is an overboughtness area is, which also provides resistance. But given the current news background, everything can happen. Growth of the pair is the main plan, target is (+ 1/8), from which, most likely, we can expect a dowward rollback. The alternative plan: a downward rollback to (8/8)

Trading solutions: none.

Nikolay Krishtopov
FreshForex Analyst
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