GBP/USD Rebounds From Main Support 1.4380
Anton Kolhanov | May 11, 2016 05:11AM ET
Main scenario:
GBP/USD is trading along a sideways trend between support 1.4380 and resistance 1.4480.
An uptrend will start as soon as the pair rises above resistance level 1.4480, which will be followed by moving up to resistance level 1.4600.
Alternative scenario:
The downtrend may be expected to continue if the market drops below support level 1.4380, which will be followed by reaching support level 1.4315.
Previous forecast:
/h2
Main scenario:
Market is rebounding from the main support level 1.4380. From that, uptrend will start as soon as the pair rises above resistance level 1.4480, which will be followed by moving up to resistance level 1.4770.
Alternative scenario:
The downtrend may be expected to continue if the market drops below support level 1.4380, which will be followed by reaching support level 1.4130.
Previous forecast:
Monthly forecast, May 2016: break down of 1.4480 open a target on 1.4130
Get The News You Want
Main scenario:
The pair is trading along a sideways trend between support 1.4480 and resistance 1.4815.
A downtrend will start as soon as the pair drops below support level 1.4480, which will be followed by moving down to support level 1.4130.
Alternative scenario:
An uptrend will start as soon as the pair rises above resistance level 1.4815, which will be followed by moving up to resistance level 1.5130.
Previous forecast:
Quarterly forecast, April - May, 2016: break down of 1.4480 open a target on 1.3900 - 1.3700
Main scenario:
The pair is trading along a sideways trend between support 1.4480 and resistance 1.4815.
A downtrend will start as soon as the pair drops below support level 1.4480, which will be followed by moving down to support level 1.4130 and 1.3900 - 1.3700.
Alternative scenario:
An uptrend will start as soon as the pair rises above resistance level 1.4815, which will be followed by moving up to resistance level 1.5130 and 1.5700.
Previous forecast:
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.
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.