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    Technical analysis for the GBPUSD on 23.04.2015

    The GBPUSD has breached strong resistance at 1.4965

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 160 pips Max. 1.5130

    Min. 1.4880

    gbpusd16

    Bulls have finally managed to break strong resistance at 1.4965, which is now acting as support. The breakout occurred at high volume, which suggests further growth.

    Last week’s high at 1.5035 has temporally held back further pound’s strengthening and the price consolidated ahead of the news.

    Retail Sales data will be released in the UK at 11.30 today. If amid the news bulls manage to break the 1.5035 resistance, it will open the way towards 1.5130.

    Alternative scenario: the uptrend will turn down if price breaks support at 1.4965.

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

    The GBPUSD has breached strong resistance at 1.4965

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 160 pips Max. 1.5130

    Min. 1.4880

    gbpusd16

    Bulls have finally managed to break strong resistance at 1.4965, which is now acting as support. The breakout occurred at high volume, which suggests further growth.

    Last week’s high at 1.5035 has temporally held back further pound’s strengthening and the price consolidated ahead of the news.

    Retail Sales data will be released in the UK at 11.30 today. If amid the news bulls manage to break the 1.5035 resistance, it will open the way towards 1.5130.

    Alternative scenario: the uptrend will turn down if price breaks support at 1.4965.

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


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