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Technical analysis for the GBPUSD on 25.08.2015

The GBPUSD: further uptrend is expected

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 155 pips Max. 1.2790

Min. 1.5715

gbpusd16

Having breached resistance at 1.5675, bulls continued to push the price higher at increased volumes, which gives reasons to anticipate further uptrend.

Yesterday’s high – level 1.5800 – is acting as the main resistance at the moment. Its breakout will confirm strong bullish potential.

Potential growth target is situated at 1.5925 resistance, formed on 18.06.2015. The test of this level will most likely trigger consolidation.

Alternative scenario: correction down into the range of strong support at 1.5715, followed by the rebound up is a possibility.

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 ≈ 155 pips Max. 1.2790

Min. 1.5715

gbpusd16

Having breached resistance at 1.5675, bulls continued to push the price higher at increased volumes, which gives reasons to anticipate further uptrend.

Yesterday’s high – level 1.5800 – is acting as the main resistance at the moment. Its breakout will confirm strong bullish potential.

Potential growth target is situated at 1.5925 resistance, formed on 18.06.2015. The test of this level will most likely trigger consolidation.

Alternative scenario: correction down into the range of strong support at 1.5715, followed by the rebound up is a possibility.

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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