GBP/USD Trades Along Downtrend, Targets 1.5440
Anton Kolhanov | Sep 22, 2015 04:45AM ET
Main scenario:
The GBP/USD pair is trading along an downtrend with target on 1.5440, that may be expected to continue, while pair is trading below resistance level 1,5515.
Alternative scenario:
An uptrend will start as soon, as the pair rises above resistance level 1.5515, which will be followed by moving up to resistance level 1.5585.
Weekly Forecast, 21 - 25 September/h3
Main scenario:
The pair is trading along an sideways trend between support 1.5515 and resistance level 1.5625. An downtrend will start as soon as the pair drops below support level 1.5515, which will be followed by moving down to support level 1.5440 and then to 1.5270.
Alternative scenario:
An uptrend will start as soon as the pair rises above resistance level 1.5700, which will be followed by moving up to resistance level 1.5880.
Main scenario:
The pair is trading along an uptrend to 1.4800. The downtrend may be expected to continue while pair is trading below resistance level 1.5550, which will be followed by reaching support level 1.4800 and if it keeps on moving down below that level, we may expect the pair to reach support level 1.4300, or we will have correction to 1.5270.
Alternative scenario:
An uptrend will start as soon as the pair rises above resistance level 1.5550, which will be followed by moving up to resistance level 1.5880 and then to 1.6200.
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Main scenario:
The pair is trading along an downtrend to 1.4300. The downtrend may be expected to continue while pair is trading below resistance level 1.5550, which will be followed by reaching support level 1.4800 and to 1.4300.
Alternative scenario:
An uptrend will start as soon as the pair rises above resistance level 1.5550, which will be followed by moving up to resistance level 1.5880 and then to 1.6200.
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