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Technical analysis for the GBPUSD on 10.11.2015

The GBPUSD has corrected towards 1.5105 resistance

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 140 pips Max. 1.5245
Min. 1.5000

gbpusd1

The British pound has been correcting up from 1.5025 support for two days. Bulls managed to push the price into the range of strong 1.5105 resistance.

Short-term breakout of 1.5106 resistance may allow bulls to correct the price even higher – to another strong resistance at 1.5165.

The longer the price consolidates between strong resistance levels of 1.5105 – 1.5165, the bigger is the possibility of the rebound down and continuation of the medium-term bearish trend.

Alternative scenario:  

Correction up will continue if price breaks resistance at 1.5165. The breakout will open the way to the final correction target – level 1.5245.

 

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 has corrected towards 1.5105 resistance

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 140 pips Max. 1.5245
Min. 1.5000

gbpusd1

The British pound has been correcting up from 1.5025 support for two days. Bulls managed to push the price into the range of strong 1.5105 resistance.

Short-term breakout of 1.5106 resistance may allow bulls to correct the price even higher – to another strong resistance at 1.5165.

The longer the price consolidates between strong resistance levels of 1.5105 – 1.5165, the bigger is the possibility of the rebound down and continuation of the medium-term bearish trend.

Alternative scenario:  

Correction up will continue if price breaks resistance at 1.5165. The breakout will open the way to the final correction target – level 1.5245.

 

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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