GBP/USD Uptrend Expected To Continue
Anton Kolhanov | Oct 08, 2015 02:34AM ET
GBP/USD
Main scenario:
The pair is trading along an uptrend with target on 1.5440, which may be expected to continue in case the market rises above resistance level 1.5340.
Alternative scenario:
A downtrend will start as soon as the pair drops below support level 1.5240, which will be followed by moving down to support level 1.5170.
Weekly Forecast, 5 - 9 October
Main scenario:
The pair is trading along an uptrend with target on 1.5285, and if it keeps on moving up above that level, we may expect the pair to reach resistance level 1.5515.
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.
Monthly forecast, October 2015
Main scenario:
The pair is trading along a sideways trend between resistance 1.5515 and support 1.5160 levels. A downtrend will start as soon as the pair drops below support level 1.5160, which will be followed by moving down to support level 1.4970 and then to 1.4800.
Alternative scenario:
A local uptrend will start as soon as the pair rises above resistance level 1.5285, which will be followed by moving up to resistance level 1.5515 and if it keeps on moving up above that level, we may expect start of main uptrend and the pair to reach resistance level 1.5880.
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Long-term forecast: September - November, 2015
Main scenario:
The pair is trading along a 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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