The GBPUSD has breached strong resistance at 1.5465
| Direction | Period | Expected price movement | Price movement corridor |
|---|---|---|---|
| ↓↑ | 1 day | ≈ 160 pips | Max. 1.5725
Min. 1.5465 |
The British pound significantly strengthened against the US dollar yesterday, breaking 1.5465 resistance on the way. Although the breakout occurred at low volume, bullish potential is still dominating.
The breakout of the 1.5465 mark initiated the formation of the ascending channel on the intraday chart, where trading is currently carried out. The test of the channel’s lower border at 1.5540 will trigger continuation of the bullish trend.
Potential growth targets are situated at: 1.5600, 1.5700, 1.5775.
Alternative scenario: downside correction into strong support at 1.5465 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 has breached strong resistance at 1.5465
| Direction | Period | Expected price movement | Price movement corridor |
|---|---|---|---|
| ↓↑ | 1 day | ≈ 160 pips | Max. 1.5725
Min. 1.5465 |
The British pound significantly strengthened against the US dollar yesterday, breaking 1.5465 resistance on the way. Although the breakout occurred at low volume, bullish potential is still dominating.
The breakout of the 1.5465 mark initiated the formation of the ascending channel on the intraday chart, where trading is currently carried out. The test of the channel’s lower border at 1.5540 will trigger continuation of the bullish trend.
Potential growth targets are situated at: 1.5600, 1.5700, 1.5775.
Alternative scenario: downside correction into strong support at 1.5465 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!