GBP/USD Downtrend To 1.3035
Anton Kolhanov | Aug 30, 2016 03:57AM ET
Main scenario:
GBP/USD is trading along a downtrend with target on 1.3035. That may be expected to continue while pair is trading below resistance level 1.3180.
Alternative scenario:
An uptrend will start as soon as the pair rises above resistance level 1.3180, which will be followed by moving up to resistance level 1.3235 and 1.3300.
Previous forecast:
Main scenario:
The pair is trading along a downtrend with target on 1.2920. That may be expected to continue while pair is trading below resistance level 1.3180.
Alternative scenario:
An uptrend will start as soon as the pair rises above resistance level 1.3180, which will be followed by moving up to resistance level 1.3300. If it keeps on moving up above that level, we may expect the pair to reach resistance level 1.3555.
Previous forecast:
Monthly forecast, August/September 2016: sideways between 1.2920 and 1.3300
Main scenario:
The pair is trading along a sideways trend between support 1.2920 and resistance 1.3300.
The downtrend may be expected to continue in case the market drops below support level 1.2920, which will be followed by reaching support level 1.2700 - 1.2500.
Alternative scenario:
An uptrend will start as soon as the pair rises above resistance level 1.3300, which will be followed by moving up to resistance level 1.3550.
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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:
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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