GBP/USD: Downtrend To 1.3975
Anton Kolhanov | Apr 07, 2016 01:20AM ET
GBP/USD
Main scenario:
The pair is trading along a downtrend with target on 1.3975 that may be expected to continue while pair is trading below resistance level 1.4150.
Alternative scenario:
An uptrend will start as soon as the pair rises above resistance level 1.4200, which will be followed by moving up to resistance level 1.4380.
Previous forecast:
Weekly forecast, Apr 4 - 8: sideways trend between 1.410 - 1.4450
Main scenario:
The pair is trading along a sideways trend between supprt 1.4110 and resistance 1.4450.
The downtrend may be expected to continue if the market drops below support level 1.4110, which will be followed by reaching support level 1.3900.
Alternative scenario:
An uptrend will start as soon as the pair rises above resistance level 1.4450, which will be followed by moving up to resistance level 1.4815.
Previous forecast:
Monthly forecast, March 2016: downtrend with target on 1.3700 and 1.3330
Main scenario:
The pair is trading along a sideways trend between support 1.4110 and resistance 1.4450.
The downtrend may be expected to continue if the market drops below support level 1.4110, which will be followed by reaching support level 1.3900 - 1.3700.
Alternative scenario:
An uptrend will start as soon as the pair rises above resistance level 1.4450, which will be followed by moving up to resistance level 1.4815.
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Previous forecast:
Quarterly forecast, January - March, 2016
Main scenario:
The pair is trading along a downtrend with target on 1.4270 - 1.4070 that may be expected to continue while pair is trading below resistance level 1.5030.
Alternative scenario:
An uptrend will start as soon as the pair rises above resistance level 1.5030, which will be followed by moving up to resistance level 1.5440.
Previous forecast:
Yearly forecast, 2016
Main scenario:
The pair is trading along a downtrend with target on 1.4070 that may be expected to continue while pair is trading below resistance level 1.5440. If market will keep on moving down below 1.4070, we may expect the pair to reach next support level 1.3300.
Alternative scenario:
An uptrend will start as soon as the pair rises above resistance level 1.5440, which will be followed by moving up to resistance level 1.7130.
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