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    Technical analysis for the GBPUSD on 09.06.2015

    The GBPUSD has corrected to the upper border of the descending channel at 1.5370

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 165 pips Max. 1.5500

    Min. 1.5200

    gbpusd6

    The British pound corrected back up to the upper border of the descending channel at 1.5370 after Friday’s decline against the US dollar.

    The 1.5370 upper border of the descending channel is acting as the descending trend line and key resistance for this instrument. If bulls fail to pass this barrier on today’s session, the price will bounce down.

    Potential decline targets are found at 1.5270, 1.5200 supports.

    Alternative scenario: the breakout of the 1.5370 descending trend line will be a good signal for the reversal of the downtrend to the upside.

    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 corrected to the upper border of the descending channel at 1.5370

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 165 pips Max. 1.5500

    Min. 1.5200

    gbpusd6

    The British pound corrected back up to the upper border of the descending channel at 1.5370 after Friday’s decline against the US dollar.

    The 1.5370 upper border of the descending channel is acting as the descending trend line and key resistance for this instrument. If bulls fail to pass this barrier on today’s session, the price will bounce down.

    Potential decline targets are found at 1.5270, 1.5200 supports.

    Alternative scenario: the breakout of the 1.5370 descending trend line will be a good signal for the reversal of the downtrend to the upside.

    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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