Pressure remains | 17 August 2016
17 August 2016, GBP/USD
Four-hours chart of GBPUSD. The pair continued movement under the alternative scenario: broke through the level (2/8), and reached the resistance - SuperTrend Daily line. Given the fact that the price has already passed quite a noticeable distance and reached a fairly strong resistance level, with the dominant downtrend, we may expect a downward rebound from current levels and further development of the downward movement. We also cannot exclude continuation of the upward movement, because now the pair is above the local support levels formed yesterday.
Trading solutions: none
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.
