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Sellers are still dominating

Sellers are still dominating | 15 August 2016

15 August 2016, GBP/USD

Four-hours chart of GBPUSD. The pair continues to move down. Bulls have made another attempt to gain a foothold at least above the four-hours SuperTrend line and failed. Strength of four-hours SuperTrend line proves continuation of trend movement. Therefore, the main plan is a decline. First, the price is expected to get to the reversal level (1/8), which now still serves as the year's Low, but in the medium run, the Low can be updated, too.

Trading solutions: keep sales, the goal is the same, at the reversal level 1.2817 (1/8)

Nikolay Krishtopov
FreshForex Analyst
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