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    Technical analysis for the GBPUSD on 17.08.2015

    The GBPUSD is testing tough resistance at 1.5670

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 145 pips Max. 1.5785

    Min. 1.5535

    gbpusd10

    The British pound has been attempting to break above the tough resistance of 1.5670 more than a month. All attempts to test the barrier ended up with rebounds down.

    Current test of the 1.5670 mark is taking place amid low volumes. Strong divergence indicates weakening bullish potential.

    It’s very likely, that the test of the 1.5670 resistance will trigger consolidation, followed by the bounce down to 1.5615, 1.5570, 1.5535 supports.

    Alternative scenario: steady bullish trend will continue, if price breaks and holds above the 1.5670 mark.

    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 testing tough resistance at 1.5670

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 145 pips Max. 1.5785

    Min. 1.5535

    gbpusd10

    The British pound has been attempting to break above the tough resistance of 1.5670 more than a month. All attempts to test the barrier ended up with rebounds down.

    Current test of the 1.5670 mark is taking place amid low volumes. Strong divergence indicates weakening bullish potential.

    It’s very likely, that the test of the 1.5670 resistance will trigger consolidation, followed by the bounce down to 1.5615, 1.5570, 1.5535 supports.

    Alternative scenario: steady bullish trend will continue, if price breaks and holds above the 1.5670 mark.

    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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