GBP/USD Forecast: Trading Along A Downtrend
Forex Million | Mar 25, 2015 02:05AM ET
GBP/USD Main scenario:
The pair is trading along a downtrend.
The downtrend may be expected to continue while pair is trading below resistance level 1.4980, which will be followed by reaching support level 1.4740 and if it keeps on moving down below that level, we may expect the pair to reach support level 1.4535.
Alternative scenario:
An uptrend will start as soon, as the pair rises above resistance level 1.4980, which will be followed by moving up to resistance level 1.5120.
Previous forecast:
Weekly Forecast, 23 - 27 March
Main scenario:
The pair is trading along an downtrend.
The downtrend may be expected to continue while pair is trading below resistance level 1.4980, which will be followed by reaching support level 1.4740 and if it keeps on moving down below that level, we may expect the pair to reach support level 1.4535.
Alternative scenario:
An uptrend will start as soon, as the pair rises above resistance level 1.4980, which will be followed by moving up to resistance level 1.5120 and if it keeps on moving up above that level, we may expect the pair to reach resistance level 1.5440.
Previous forecast:
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Monthly forecast, March - April
Main scenario:
The pair is trading along an downtrend.
The downtrend may be expected to continue while pair is trading below resistance level 1.5630, which will be followed by reaching support level 1.4980.
Alternative scenario:
An uptrend will start as soon, as the pair rises above resistance level 1.5630, which will be followed by moving up to resistance level 1.6185.
Previous forecast:
Long-term forecast: January - June 2015
Main scenario:
The pair is trading along an downtrend.
The downtrend may be expected to continue while pair is trading below resistance level 1.5530, which will be followed by reaching support level 1.4535 and 1.4100.
Alternative scenario:
An uptrend will start as soon, as the pair rises above resistance level 1.5530, which will be followed by moving up to resistance level 1.6700.
Previous forecast:
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