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Technical analysis for the GBPUSD on 11.06.2015

The GBPUSD keeps trading to the upside

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 170 pips Max. 1.5680

Min. 1.5370

gbpusd8

The British pound, unlike the Euro, looks more stable. If for the Euro future development looks unclear, the pound keeps steadily moving to the upside.

Yesterday’s breakout of two resistance levels at 1.5435 and 1.5495 allowed bulls to reinforce their positions. After a short-term correction the uptrend is likely to continue.

Potential correction target is situated at 1.5435 support  – the level is crossed by the lower border of the ascending channel. The test of this mark will most likely trigger a rebound up.

Alternative scenario: continuing consolidation above 1.5435 support is a possibility.

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 keeps trading to the upside

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 170 pips Max. 1.5680

Min. 1.5370

gbpusd8

The British pound, unlike the Euro, looks more stable. If for the Euro future development looks unclear, the pound keeps steadily moving to the upside.

Yesterday’s breakout of two resistance levels at 1.5435 and 1.5495 allowed bulls to reinforce their positions. After a short-term correction the uptrend is likely to continue.

Potential correction target is situated at 1.5435 support  – the level is crossed by the lower border of the ascending channel. The test of this mark will most likely trigger a rebound up.

Alternative scenario: continuing consolidation above 1.5435 support is a possibility.

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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