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    Technical analysis for the GBPUSD on 14.07.2015

    The GBPUSD has rebounded from the descending trend line of 1.5585

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 160 pips Max. 1.5545

    Min. 1.5325

    eurusd9

    Short-term test of the 1.5585 descending trend line was followed by the GBP decline against the dollar. Looks like bears are getting ready to continue the downtrend.

    Consumer price index is being released today – amid the news the price may test 1.5545 resistance again. The test will be most likely followed by the rebound down.

    The closest decline target is situated at 1.5415 support. Its breakout will open the way down towards 1.5325.

    Alternative scenario: long consolidation around the descending trend line and 1.5545 resistance.

    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 rebounded from the descending trend line of 1.5585

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 160 pips Max. 1.5545

    Min. 1.5325

    eurusd9

    Short-term test of the 1.5585 descending trend line was followed by the GBP decline against the dollar. Looks like bears are getting ready to continue the downtrend.

    Consumer price index is being released today – amid the news the price may test 1.5545 resistance again. The test will be most likely followed by the rebound down.

    The closest decline target is situated at 1.5415 support. Its breakout will open the way down towards 1.5325.

    Alternative scenario: long consolidation around the descending trend line and 1.5545 resistance.

    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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