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    Technical analysis for the GBPUSD on 07.05.2015

    The GBPUSD keeps trading to the upside

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 130 pips Max. 1.5400

    Min. 1.5035

    gbpusd4

    The British pound keeps slowly but steadily recovering its positions against the US dollar after a three-day correction last week. Having breached the descending channel, bulls held above level 1.5185.

    Despite the fact that volatility in this instrument has recently decreased, growth continues at high volume, therefore strong bullish potential preserves.

    Today we expect the price to approach resistance at 1.5315. Its breakout will open the way up to the last week’s high at 1.5455.

    Alternative scenario: the uptrend will turn down of price breaks support at 1.5185.

    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 keeps trading to the upside

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 130 pips Max. 1.5400

    Min. 1.5035

    gbpusd4

    The British pound keeps slowly but steadily recovering its positions against the US dollar after a three-day correction last week. Having breached the descending channel, bulls held above level 1.5185.

    Despite the fact that volatility in this instrument has recently decreased, growth continues at high volume, therefore strong bullish potential preserves.

    Today we expect the price to approach resistance at 1.5315. Its breakout will open the way up to the last week’s high at 1.5455.

    Alternative scenario: the uptrend will turn down of price breaks support at 1.5185.

    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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