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    Technical analysis for the GBPUSD on 27.07.2015

    The GBPUSD is consolidating below tough resistance of 1.5530

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 130 pips Max. 1.5670

    Min. 1.5400

    gbpusd17

    Having breached support at 1.5530, the price corrected back up to this barrier, which is now acting as resistance. Corrective growth occurred at low volumes and turned into consolidation.

    Taking how Friday’s trading closed (doji candlestick formed after the bearish candlestick), we expect 1.5530 resistance to be breached to the upside any time soon.

    The breakout will open the way to the descending trend line at 1.5640. Its test will most likely trigger the rebound down and continuation of the downtrend.

    Alternative scenario: long consolidation below 1.5530 resistance will be a signal for the rebound down to the target at 1.5450.

    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 consolidating below tough resistance of 1.5530

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 130 pips Max. 1.5670

    Min. 1.5400

    gbpusd17

    Having breached support at 1.5530, the price corrected back up to this barrier, which is now acting as resistance. Corrective growth occurred at low volumes and turned into consolidation.

    Taking how Friday’s trading closed (doji candlestick formed after the bearish candlestick), we expect 1.5530 resistance to be breached to the upside any time soon.

    The breakout will open the way to the descending trend line at 1.5640. Its test will most likely trigger the rebound down and continuation of the downtrend.

    Alternative scenario: long consolidation below 1.5530 resistance will be a signal for the rebound down to the target at 1.5450.

    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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