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    Technical analysis for the GBPUSD on 22.07.2015

    The GBPUSD: further uptrend is expected

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 220 pips Max. 1.5785

    Min. 1.5400

    gbpusd14

    The pullback down, which commenced after two tests of 1.5670 resistance, looks weak. Trading volumes are low, volatility is less than 100 pips.

    The US dollar is currently falling against all its major competitors. MPC meeting minutes will be released at 11.30 today.

    The price is likely to test 1.5670 resistance for the third time amid the news. If the test ends up with the breakout, the price will continue its growth towards the next target at 1.5785.

    Alternative scenario: false test of 1.5670 resistance will trigger the rebound towards 1.5560 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: further uptrend is expected

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 220 pips Max. 1.5785

    Min. 1.5400

    gbpusd14

    The pullback down, which commenced after two tests of 1.5670 resistance, looks weak. Trading volumes are low, volatility is less than 100 pips.

    The US dollar is currently falling against all its major competitors. MPC meeting minutes will be released at 11.30 today.

    The price is likely to test 1.5670 resistance for the third time amid the news. If the test ends up with the breakout, the price will continue its growth towards the next target at 1.5785.

    Alternative scenario: false test of 1.5670 resistance will trigger the rebound towards 1.5560 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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