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    Technical analysis for the GBP/USD – 20.10.2015

    The price remained sideways within the range of 1.5500-1.5420/30, like expected. The pair is currently testing the range’s resistance – trading is carried out at around 1.5500. Indicators are bullish – R% has joined the overbought SS, MACD resumed growth in the positive territory. Such picture gives reasons to expect a possible breakout of the 1.5500 barrier. If so, the breakout will open the way to the main descending trend line (red lines) – level 1.5660/70. Reversal to 1.5420 support, on the other hand, will indicate further consolidation within the previously formed range. The 1.5420/30 breakout will be the first sign of a possible reversal of the trend in this instrument.

    GBP201015

     

    Dear traders, please post your comments to our forecasts and share your own opinion. Your ideas can be very helpful for the newcomers. Thank you!

    The price remained sideways within the range of 1.5500-1.5420/30, like expected. The pair is currently testing the range’s resistance – trading is carried out at around 1.5500. Indicators are bullish – R% has joined the overbought SS, MACD resumed growth in the positive territory. Such picture gives reasons to expect a possible breakout of the 1.5500 barrier. If so, the breakout will open the way to the main descending trend line (red lines) – level 1.5660/70. Reversal to 1.5420 support, on the other hand, will indicate further consolidation within the previously formed range. The 1.5420/30 breakout will be the first sign of a possible reversal of the trend in this instrument.

    GBP201015

    Dear traders, please post your comments to our forecasts and share your own opinion. Your ideas can be very helpful for the newcomers. Thank you!


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