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Technical analysis for the GBPUSD on 16.06.2015

The GBPUSD has refreshed its last week’s high at 1.5596

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 140 pips Max. 1.5680

Min. 1.5435

gbpusd11

The British pound keeps a steady uptrend – the price breached resistance at 1.5565 and renewed the last week’s high at 1.5596.

From the point of view of volumes, bullish potential is weakening, which gives reasons to expect some correction down. As long as trades keep within the ascending channel, however, bullish strength preserves.

If bears fail to break 1.5565 support after the release of fundamental news at 11.30, bulls will push the price up to the next closest resistance at 1.5680.

Alternative scenario: the breakout of 1.5565 support will open the way down for correction. Potential decline targets in this case will be found at 1.5490, 1.5435.

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 has refreshed its last week’s high at 1.5596

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 140 pips Max. 1.5680

Min. 1.5435

gbpusd11

The British pound keeps a steady uptrend – the price breached resistance at 1.5565 and renewed the last week’s high at 1.5596.

From the point of view of volumes, bullish potential is weakening, which gives reasons to expect some correction down. As long as trades keep within the ascending channel, however, bullish strength preserves.

If bears fail to break 1.5565 support after the release of fundamental news at 11.30, bulls will push the price up to the next closest resistance at 1.5680.

Alternative scenario: the breakout of 1.5565 support will open the way down for correction. Potential decline targets in this case will be found at 1.5490, 1.5435.

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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