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The pair exited the flat

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

Nikolay Krishtopov
FreshForex Analyst
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