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Technical analysis for the GBPUSD on 28.08.2015

The GBPUSD: ahead of the GDP news

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 180 pips Max. 1.5600

Min. 1.5300

gbpusd19

Bears broke two strong supports at 1.5465 and 1.5425 yesterday. The breakouts occurred amid strong volume divergence, which indicates weakening bearish potential.

The price is currently attempting to break resistance at 1.5425, which will trigger the test of the 1.5465 mark. The test itself should take place at 11.30, during the release of the GDP data in the UK.

If price breaks resistance at 1.5465, the downtrend will turn up for correction. The targets will be found at 1.5465, 1.5535, 1.5600.

Alternative scenario: the breakout of 1.5370 support will be a signal for further downtrend. The breakout will open the way to 1.5300.

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

The GBPUSD: ahead of the GDP news

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 180 pips Max. 1.5600

Min. 1.5300

gbpusd19

Bears broke two strong supports at 1.5465 and 1.5425 yesterday. The breakouts occurred amid strong volume divergence, which indicates weakening bearish potential.

The price is currently attempting to break resistance at 1.5425, which will trigger the test of the 1.5465 mark. The test itself should take place at 11.30, during the release of the GDP data in the UK.

If price breaks resistance at 1.5465, the downtrend will turn up for correction. The targets will be found at 1.5465, 1.5535, 1.5600.

Alternative scenario: the breakout of 1.5370 support will be a signal for further downtrend. The breakout will open the way to 1.5300.

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



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