The pair exited the flat | 01 September 2016
01 September 2016, GBP/USD
Four-hours chart of GBPUSD. As we expected, the price has left the horizontal channel in the upward direction. Now the price is trying to gain a foothold above the upper border of the flat. If it succeeds, growth will start. We can not say that potential for further upward movement is too large. Ahead is the major support and resistance level (4/8), which will not be easy to cross, and only after consolidation of the pair above this level we can talk about any kind of medium-term growth outlook. Today, the main option is surge to (4/8), and rebound from it down.
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.
