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    Technical analysis for the GBP/USD – 22.10.2015

    The price kept moving sideways within the range of 1.5500-1.5430/20, as expected. Having failed to break support of this range, the price is now pulling back up. Trading is carried out around 1.5460/50. The indicators are unanimously suggesting strengthening downside potential, which gives reasons to expect the breakout of 1.5420/30 support. If it happens, the pair will soon find itself at 1.5360/50 support. This will be the first signal for the reversal down. Until then, bullish trend remains dominating and the breakout of 1.5500 resistance will be a sign of further growth to the next target at 1.5660/70.

    GBP221015

    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 kept moving sideways within the range of 1.5500-1.5430/20, as expected. Having failed to break support of this range, the price is now pulling back up. Trading is carried out around 1.5460/50. The indicators are unanimously suggesting strengthening downside potential, which gives reasons to expect the breakout of 1.5420/30 support. If it happens, the pair will soon find itself at 1.5360/50 support. This will be the first signal for the reversal down. Until then, bullish trend remains dominating and the breakout of 1.5500 resistance will be a sign of further growth to the next target at 1.5660/70.

    GBP221015

    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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