GBP/USD: Downtrend With Target On 1.2700
Anton Kolhanov | Jul 07, 2016 06:40AM ET
GBP/USD
Main scenario:
The pair is trading along a downtrend with target on 1.2700, that may be expected to continue, while pair is trading below resistance level 1.3025.
Alternative scenario:
An uptrend will start as soon as the pair rises above resistance level 1.3025, which will be followed by moving up to resistance level 1.3300.
Previous forecast:
Weekly forecast, July 04 - 08: break up of 1.3555 will open target to 1.3910
Main scenario:
The pair is trading along a sideways trend between support 1.3220 and resistance 1.3555.
An uptrend will start as soon, as the pair rises above resistance level 1.3555, which will be followed by moving up to resistance level 1.3910.
Alternative scenario:
A downtrend will start as soon, as the pair drops below support level 1.3220, which will be followed by moving down to support level 1.2700.
Previous forecast:
Monthly forecast, July 2016: break down of 1.3300 will open target to 1.2700
Main scenario:
The pair is trading along a sideways trend between main support 1.3300 and resistance 1.3555.
The downtrend may be expected to continue in case the market drops below support level 1.3300 - 1.3118, which will be followed by reaching support level 1.2700.
Alternative scenario:
An uptrend will start as soon as the pair rises above resistance level 1.3555, which will be followed by moving up to resistance level 1.3910 and 1.4600.
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Previous forecast:
Quarterly forecast, July - September, 2016: break down of 1.3118 will open target to 1.2500 - 1.2000
Main scenario:
The pair is trading along a downtrend and if it keeps on moving down below 1.3118, we may expect the pair to reach support level 1.2500 - 1.2000.
Alternative scenario:
An uptrend will start as soon as the pair rises above resistance level 1.3910, which will be followed by moving up to resistance level 1.4600 and 1.5120.
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 keeps on moving down below that 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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