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Technical analysis for the GBPUSD on 09.11.2015

The GBPUSD broke strong support at 1.5105

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 140 pips Max. 1.5165
Min. 1.4950

gbpusd

The British pound had been falling against the US dollar for the whole last week. Decline was followed by the breakout of tough support at 1.5105 amid increased volumes.

Level 1.5105 is a significant resistance. Its re-test will probably cause consolidation and the rebound down.

The closest decline target is situated at the current support of 1.5025, where from the price is now correcting up. The breakout of this mark will open the way towards 1.5000, 1.4950.

Alternative scenario: 

The breakout of a strong 1.5105 resistance will open the way up to the next tough barrier at 1.5165. The test of this level will most likely trigger consolidation, followed by the rebound down.

 

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 broke strong support at 1.5105

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 140 pips Max. 1.5165
Min. 1.4950

gbpusd

The British pound had been falling against the US dollar for the whole last week. Decline was followed by the breakout of tough support at 1.5105 amid increased volumes.

Level 1.5105 is a significant resistance. Its re-test will probably cause consolidation and the rebound down.

The closest decline target is situated at the current support of 1.5025, where from the price is now correcting up. The breakout of this mark will open the way towards 1.5000, 1.4950.

Alternative scenario: 

The breakout of a strong 1.5105 resistance will open the way up to the next tough barrier at 1.5165. The test of this level will most likely trigger consolidation, followed by the rebound down.

 

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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