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    Technical analysis for the GBPUSD on 16.07.2015

    The GBPUSD is up for correction to the downside

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 180 pips Max. 1.5785

    Min. 1.5450

    gbpusd11

    The uptrend has temporarily halted at 1.5660 resistance. The test of the level triggered correction down with target at 1.5545 support.

    The price is likely to test the 1.5545 support amid the news both in the US (17.00 – Fed Chair Yellen’s speech) and  in the UK (21.00 – BoE Governor Mark Carney speaking).

    If bears fail to break and hold below 1.5545 support, the price will rebound up and the price will proceed up to the next targets at 1.5660, 1.5700, 1.5785.

    Alternative scenario: the downtrend will continue id price breaks support at 1.5545.

    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 up for correction to the downside

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 180 pips Max. 1.5785

    Min. 1.5450

    gbpusd11

    The uptrend has temporarily halted at 1.5660 resistance. The test of the level triggered correction down with target at 1.5545 support.

    The price is likely to test the 1.5545 support amid the news both in the US (17.00 – Fed Chair Yellen’s speech) and  in the UK (21.00 – BoE Governor Mark Carney speaking).

    If bears fail to break and hold below 1.5545 support, the price will rebound up and the price will proceed up to the next targets at 1.5660, 1.5700, 1.5785.

    Alternative scenario: the downtrend will continue id price breaks support at 1.5545.

    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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