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Technical analysis for the GBPUSD on 10.08.2015

The GBPUSD is consolidating above the strong support of 1.5465

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 140 pips Max. 1.5620

Min. 1.5360

gbpusd5

Bears attempted to break below 1.5465 support on Friday. Short-term breakout took place at high volumes, but the price failed to hold below this barrier and pulled back up.

Today the price may test 1.5465 support again. If the test is followed by consolidation, we’ll be expecting the rebound up.

The closest rebound targets are situated at 1.5550 resistance and the descending trend line of 1.5620.

Alternative scenario: if price breaks and hold below 1.5465 support, bears will keep pushing the price down to the next targets at 1.5425, 1.5400, 1.5330.

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 strong support of 1.5465

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 140 pips Max. 1.5620

Min. 1.5360

gbpusd5

Bears attempted to break below 1.5465 support on Friday. Short-term breakout took place at high volumes, but the price failed to hold below this barrier and pulled back up.

Today the price may test 1.5465 support again. If the test is followed by consolidation, we’ll be expecting the rebound up.

The closest rebound targets are situated at 1.5550 resistance and the descending trend line of 1.5620.

Alternative scenario: if price breaks and hold below 1.5465 support, bears will keep pushing the price down to the next targets at 1.5425, 1.5400, 1.5330.

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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