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The price has failed to cross (3/8)

The price has failed to cross (3/8) | 18 July 2016

18 July 2016, GBP/USD

Four-hours chart of GBPUSD. Buyers could not cross (3/8), which currently serves as a strong resistance. Nevertheless, buyers are not thrashed. The local support on the Daily SuperTrend Line has resisted, so they still have a chance to resume an upward movement - within the frames of correction. The nearest goal is (3/8). Breakdown and consolidation of the pair below the SuperTrend Daily line will cancel this option. In this case, we wait for a new descending wave and a drop to the main support level (0/8) in the long run

Trading solutions: no

Nikolay Krishtopov
FreshForex Analyst
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