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    Technical analysis for the GBPUSD on 02.07.2015

    The GBPUSD has breached tough support at 1.5690

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 130 pips Max. 1.5720

    Min. 1.5500

    gbpusd1

    Continuing consolidation above 1.5690 support was followed by the breakout. At low volumes, bears kept pushing the price down, breaking another level on the way – 1.5625.

    The price has now consolidated below the intermediate resistance of 1.5625. There’s a high possibility of the bounce down and continuation of the bearish trend.

    Potential decline targets are situated at: 1.5540, 1.5500.

    Alternative scenario: correction up from strong 1.5690 resistance 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 tough support at 1.5690

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 130 pips Max. 1.5720

    Min. 1.5500

    gbpusd1

    Continuing consolidation above 1.5690 support was followed by the breakout. At low volumes, bears kept pushing the price down, breaking another level on the way – 1.5625.

    The price has now consolidated below the intermediate resistance of 1.5625. There’s a high possibility of the bounce down and continuation of the bearish trend.

    Potential decline targets are situated at: 1.5540, 1.5500.

    Alternative scenario: correction up from strong 1.5690 resistance 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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