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    Technical analysis for the GBPUSD on 23.11.2015

    The GBPUSD: the uptrend has turned down

    gbpusd5

    Corrective growth of the British pound from 1.5025 support has turned down. The trend turned bearish in one trading day.

    The closest decline target was situated at 1.5165 support. The price approached this barrier at low volumes but amid increased volatility. There’s a big chance of  the breakout to the downside.

    If bears manage to break and hold below 1.5165 support, medium-term downtrend will continue. Potential decline targets are situated at 1.5105, 1.5025.

    Alternative scenario:

    Long consolidation above 1.5165 support may trigger corrective rebound up. The main correction target will be situated at 1.5245 resistance.

     

    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 GBPUSD: the uptrend has turned down

    gbpusd5

    Corrective growth of the British pound from 1.5025 support has turned down. The trend turned bearish in one trading day.

    The closest decline target was situated at 1.5165 support. The price approached this barrier at low volumes but amid increased volatility. There’s a big chance of  the breakout to the downside.

    If bears manage to break and hold below 1.5165 support, medium-term downtrend will continue. Potential decline targets are situated at 1.5105, 1.5025.

    Alternative scenario:

    Long consolidation above 1.5165 support may trigger corrective rebound up. The main correction target will be situated at 1.5245 resistance.

     

    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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