GBP/USD Forecast: Uptrend To Continue While Pair Trades Above 1.5165
Forex Million | May 06, 2015 05:20AM ET
GBP/USD Main scenario:
The pair is trading along an uptrend.
The uptrend may be expected to continue while pair is trading above support level 1.5165, which will be followed by reaching resistance level 1.5335 and then to 1.5425.
Alternative scenario:
A downtrend will start as soon, as the pair drops below support level 1.5120, which will be followed by moving down to support level 1.4970.
Previous forecast:
Weekly Forecast, 04 - 08 May
Main scenario:
The pair is trading along a downtrend.
The downtrend may be expected to continue while pair is trading below resistance level 1.5425, which will be followed by reaching support level 1.4970 and then to 1.4620.
Alternative scenario:
Uptrend is not expecting now.
Previous forecast:
Monthly forecast, May
Main scenario:
The pair is trading along a downtrend with target on support level 1.4970.
The downtrend may be expected to continue in case the market drops below support level 1.4970, 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 1.5425, which will be followed by moving up to resistance level 1.6200.
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Previous forecast:
Long-term forecast: January - June 2015
Main scenario:
The pair is trading along a 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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