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    Technical analysis for the GBPUSD on 29.04.2015

    The GBPUSD: steady uptrend has formed

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 190 pips Max. 1.5520

    Min. 1.5190

    gbpusd20

    «Channel within the channel» — that’s how current price movement looks on the intraday chart. Medium-term channel shows the direction of the price, short-term channel – the intermediate trend.

    Trading volumes are still high, but they begin to slowly decrease. The uptrend suggests the upcoming correction, which hasn’t been confirmed yet.

    As long as the uptrend trend keeps within the ascending channel, bulls will be dominating in this market. Potential growth target is situated at the intraday resistance of 1.5520.

    Alternative scenario: correction down into the range of the ascending channel’s lower border at 1.5190 is probable.

    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: steady uptrend has formed

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 190 pips Max. 1.5520

    Min. 1.5190

    gbpusd20

    «Channel within the channel» — that’s how current price movement looks on the intraday chart. Medium-term channel shows the direction of the price, short-term channel – the intermediate trend.

    Trading volumes are still high, but they begin to slowly decrease. The uptrend suggests the upcoming correction, which hasn’t been confirmed yet.

    As long as the uptrend trend keeps within the ascending channel, bulls will be dominating in this market. Potential growth target is situated at the intraday resistance of 1.5520.

    Alternative scenario: correction down into the range of the ascending channel’s lower border at 1.5190 is probable.

    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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