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Technical analysis for the GBP/USD – 06.11.2015

The breakout of 1.5350/40 support indicates dominating bearish potential. The price fell to the key support at 1.5240/30, broke it and approached level 1.5160/30, mentioned earlier as the next target in case level 1.5240/30 is breached. Trading is currently carried out at 1.5170/75. Indicators suggest further downtrend, so the price has all chances to breach 1.5060/30 support. If it succeeds, the next targets will be situated at 1.5030/40, аnd then at 1.4940/50 supports. It’s worth noting, however, that significant fundamental news from the US can trigger corrections in the pair. Reversal above 1.5240 will initiate growth back to 1.5350.

GBP061115

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 breakout of 1.5350/40 support indicates dominating bearish potential. The price fell to the key support at 1.5240/30, broke it and approached level 1.5160/30, mentioned earlier as the next target in case level 1.5240/30 is breached. Trading is currently carried out at 1.5170/75. Indicators suggest further downtrend, so the price has all chances to breach 1.5060/30 support. If it succeeds, the next targets will be situated at 1.5030/40, аnd then at 1.4940/50 supports. It’s worth noting, however, that significant fundamental news from the US can trigger corrections in the pair. Reversal above 1.5240 will initiate growth back to 1.5350.

GBP061115

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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