GBP/USD:
Data: 7 September, 2016
H4 Graph: Long term short, Short term long
The price started going up after found support at horizontal support at 1,307 and then it broke resistance at 1,3270. Now the price is breaking the next horizontal resistance at 1,3370 and after retest and small correction we can still look for longs for up to 1,3540. The price has formed visible bullish channel.
Alternative scenario: If the price breaks below the horizontal support at 1.337 and below 1.331 will cancel the bullish call.
Technical Indicator:
DEM (14) - In the overbought zone
Price for Entry Long around: 1,337
SL: 1.33100
Jr. Trader - S. Fuchedzhiev
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