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    Technical analysis for the GBP/USD – 21.10.2015

    «Bulls» failed to break above 1.5500 resistance, and the price bounced down, tested 1.5420 support and is now pulling back up. Trading is carried out at around 1.5440/50s. Such development was mentioned in the previous forecast, and was considered as a signal of further sideways movement in the current range. Indicators suggest a high possibility of correction sideways – R% and MACD are moving down, SS is stuck in the overbought zone. However, it still indicates dominating bullish potential and the exit from the sideways range to the upside. The breakout of the 1.5500 mark will be a signal for growth to the next target, most likely at 1.5660/70. Alternative scenario will commence if price breaks support at 1.5420/30. It’ll be the first signal for reversal down.

    GBP211015

     

    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!

    «Bulls» failed to break above 1.5500 resistance, and the price bounced down, tested 1.5420 support and is now pulling back up. Trading is carried out at around 1.5440/50s. Such development was mentioned in the previous forecast, and was considered as a signal of further sideways movement in the current range. Indicators suggest a high possibility of correction sideways – R% and MACD are moving down, SS is stuck in the overbought zone. However, it still indicates dominating bullish potential and the exit from the sideways range to the upside. The breakout of the 1.5500 mark will be a signal for growth to the next target, most likely at 1.5660/70. Alternative scenario will commence if price breaks support at 1.5420/30. It’ll be the first signal for reversal down.

    GBP211015

     

    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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