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Technical analysis for the GBPUSD on 13.11.2015

The GBPUSD: correction up has reached resistance at 1.5245

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 190 pips Max. 1.5380
Min. 1.5025

gbpusd4

The upper border of the two-week descending channel passes through 1.5245 resistance. The channel’s upper border is the key resistance for the upside correction.

Trading volumes indicate a slight divergence, suggesting weakening bullish potential. The situation will clear up at 16.30, during the release of high impact fundamental news in the US.

If price fails to break the 1.5245 resistance amid the news, it’ll then rebound  down. In this case medium-term bearish trend will recommence. Potential decline targets will be found at 1.5165, 1.5105, 1.5025.

Alternative scenario:

The breakout of 1.5245 resistance, followed by the exit from the descending channel will allow bulls to continue correction up. Growth targets are situated at 1.5325, 1.5380.

 

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: correction up has reached resistance at 1.5245

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 190 pips Max. 1.5380
Min. 1.5025

gbpusd4

The upper border of the two-week descending channel passes through 1.5245 resistance. The channel’s upper border is the key resistance for the upside correction.

Trading volumes indicate a slight divergence, suggesting weakening bullish potential. The situation will clear up at 16.30, during the release of high impact fundamental news in the US.

If price fails to break the 1.5245 resistance amid the news, it’ll then rebound  down. In this case medium-term bearish trend will recommence. Potential decline targets will be found at 1.5165, 1.5105, 1.5025.

Alternative scenario:

The breakout of 1.5245 resistance, followed by the exit from the descending channel will allow bulls to continue correction up. Growth targets are situated at 1.5325, 1.5380.

 

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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