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Technical analysis for the GBPUSD on 08.06.2015

The GBPUSD is consolidating below 1.5270 resistance.

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 150 pips Max. 1.5385

Min. 1.5115

gbpusd5

The downtrend has halted at strong 1.5200 support for the second time. The price approached this level at high volume, so there’s a high possibility of another test (the third one).

The price is currently consolidating below the resistance of 1.5270 on the 4-hour chart. The longer it stays below this level, the bigger will be the rebound down.

Potential decline targets are situated at 1.5200, 1.5115 supports.

Alternative scenario: the breakout of 1.5270 resistance will open the way up to the upper border of the descending channel at 1.5385.

Dear traders, please post your comments to our forecasts and share your own opinion. Your ideas can be very helpful for the newcomers in the forex market. Thank you!

The GBPUSD is consolidating below 1.5270 resistance.

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 150 pips Max. 1.5385

Min. 1.5115

gbpusd5

The downtrend has halted at strong 1.5200 support for the second time. The price approached this level at high volume, so there’s a high possibility of another test (the third one).

The price is currently consolidating below the resistance of 1.5270 on the 4-hour chart. The longer it stays below this level, the bigger will be the rebound down.

Potential decline targets are situated at 1.5200, 1.5115 supports.

Alternative scenario: the breakout of 1.5270 resistance will open the way up to the upper border of the descending channel at 1.5385.

Dear traders, please post your comments to our forecasts and share your own opinion. Your ideas can be very helpful for the newcomers in the forex market. Thank you!



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