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Expecting the price on the level (7/8)

Expecting the price on the level (7/8) | 02 September 2016

02 September 2016, GBP/USD

Four-hours chart of GBPUSD. The pair has demonstrated a fairly strong growth. It was not just breakthrough of the major support and resistance level (4/8), but reach of the next level (6/8). Now this mark is holding the price, but it is worth noting that this is not the strongest level in the system and upon a a strong attack of buyers, it is unlikely to withstand. Therefore, the main option is growth targeting the reversal level (7/8).

Trading solutions: buy on the four-hours SuperTrend line 1.3243 with target at level 1.3367 ( 7/8)

Nikolay Krishtopov
FreshForex Analyst
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