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    Technical analysis for the GBPUSD on 20.05.2015

    The GBPUSD is consolidating around the ascending trend line of 1.5465

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 220 pips Max. 1.5680

    Min. 1.5265

    gbpusd13

    Yesterday’s decline of the British pound against the dollar reached strong support at 1.5464, which is crossed by the ascending trend line.

    The EUR has breached key supports, while the GBP is trading above the levels, where from the price can rebound up any time.

    Monetary policy committee meeting minutes will be released at 11.30 today. If bears fail to break 1.5465 support amid the news, the price will rebound up.

    Alternative scenario: bullish trend will turn down if price breaks and holds below 1.5465 support.

    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 is consolidating around the ascending trend line of 1.5465

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 220 pips Max. 1.5680

    Min. 1.5265

    gbpusd13

    Yesterday’s decline of the British pound against the dollar reached strong support at 1.5464, which is crossed by the ascending trend line.

    The EUR has breached key supports, while the GBP is trading above the levels, where from the price can rebound up any time.

    Monetary policy committee meeting minutes will be released at 11.30 today. If bears fail to break 1.5465 support amid the news, the price will rebound up.

    Alternative scenario: bullish trend will turn down if price breaks and holds below 1.5465 support.

    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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