The pair has reached a strong resistance level | 07 September 2016
07 September 2016, GBP/USD
The four-hours chart GBPUSD. The goal on the main resistance level (8/8) has been reached. But the price is quite seldom able to cross this level without pullback, so we wait for correction in the form of a downward pullback. Bulls have all prerequisites for further rising movement. So after apullback to the four-hours Supertrend line, we can see beginning of new rising wave and entrance to the oversoldness area with first goal (+1/8), and the next possible goal on (+2/8) .
Trading decisions: the goal 1.3428 (8/8) has reached and we can settle in profit
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.
