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    Technical analysis for the GBP/USD – 16.11.2015

    Level 1.5030/40, mentioned earlier as the first stop on the way down, turned out to be stronger that expected. The price rebound up and retraced towards the previous key support at 1.5240/50, which has now become strong resistance. Attempts to break this barrier failed and the price is currently trading at around 1.5195/1.5200 marks. Indicators are not as unanimous as before, which indicates that situation in the market is rather unclear. SS is turned up, suggesting possible continuation of growth, which gives us reasons to expect the test of the next resistance at 1.5290/1.5300. Bigger growth would be a sign of the changing moods in the market. Until the breakout of level 1.5300/1.5290, the ongoing growth should be considered correction within the dominating bearish trend and previously mentioned targets at 1.4940/50 and then at 1.4760/50, 1.4630/20 are still relevant.

    GBP161115

    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!

    Level 1.5030/40, mentioned earlier as the first stop on the way down, turned out to be stronger that expected. The price rebound up and retraced towards the previous key support at 1.5240/50, which has now become strong resistance. Attempts to break this barrier failed and the price is currently trading at around 1.5195/1.5200 marks. Indicators are not as unanimous as before, which indicates that situation in the market is rather unclear. SS is turned up, suggesting possible continuation of growth, which gives us reasons to expect the test of the next resistance at 1.5290/1.5300. Bigger growth would be a sign of the changing moods in the market. Until the breakout of level 1.5300/1.5290, the ongoing growth should be considered correction within the dominating bearish trend and previously mentioned targets at 1.4940/50 and then at 1.4760/50, 1.4630/20 are still relevant.

    GBP161115

    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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