GBP/USD Forecast: Trading Along A Donwtrend
Forex Million | Apr 13, 2015 06:46AM 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 1.4655, which will be followed by reaching support level 1.4540.
Alternative scenario:
An uptrend will start as soon, as the pair rises above resistance level 1.4655, which will be followed by moving up to resistance level 1.4720.
Previous forecast:
Weekly Forecast, 13 - 17 April
Main scenario:
The pair is trading along an downtrend.
The downtrend may be expected to continue in case the market drops below support level 1.4540, which will be followed by reaching support level 1.4280.
Alternative scenario:
An uptrend will start as soon, as the pair rises above resistance level 1.4655, which will be followed by moving up to resistance level 1.4772 and if it keeps on moving up above that level, we may expect the pair to reach resistance level 1.4950 and then to 1.5130.
Previous forecast:
Monthly forecast, April
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Main scenario:
The pair is trading along an downtrend.
The downtrend may be expected to continue in case the market drops below support level 1.4740, which will be followed by reaching support level 1.4535.
Alternative scenario:
An uptrend will start as soon, as the pair rises above resistance level 1.4990 (and from support level 1.4740) which will be followed by moving up to resistance level 1.5190 and then to 1.5440.
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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