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Technical analysis for the GBPUSD on 12.06.2015

The GBPUSD is consolidating above the resistance of 1.5500

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 160 pips Max. 1.5680

Min. 1.5370

gbpusd9

The British pound keeps trading to the upside. Having breached strong resistance at 1.5500, the price has consolidated above this barrier, which is now acting as support.

The price is traded within the ascending channel, which is another sign in favor of further growth and dominating bullish potential.

Potential growth target is situated at the strong resistance of 1.5680.

Alternative scenario: the uptrend will turn down if price breaks and holds below 1.5435 support.

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 above the resistance of 1.5500

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 160 pips Max. 1.5680

Min. 1.5370

gbpusd9

The British pound keeps trading to the upside. Having breached strong resistance at 1.5500, the price has consolidated above this barrier, which is now acting as support.

The price is traded within the ascending channel, which is another sign in favor of further growth and dominating bullish potential.

Potential growth target is situated at the strong resistance of 1.5680.

Alternative scenario: the uptrend will turn down if price breaks and holds below 1.5435 support.

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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