GBP/USD Sees Upward Trade
Forex Million | Sep 11, 2014 04:03AM ET
Main scenario:
The GBP/USD is trading along an uptrend.
The uptrend may be expected to continue while pair is trading above support level 1.6100, which will be followed by reaching resistance level 1.6250 - 1.6190.
Alternative scenario:
A downtrend is not expecting today.
Previous forecast:
Weekly Forecast: 08 - 12 August
Main scenario:
The pair is trading along a downtrend.
The downtrend may be expected to continue in case the market drops below support level 1.6040, which will be followed by reaching support level 1.5720.
Alternative scenario:
An uptrend will start as soon, as the pair rises above resistance level 1.6250, which will be followed by moving up to resistance level 1.6660.
Previous forecast:
Monthly Forecast: September - October (updated 09/08/14)
Main scenario:
The pair is trading along a downtrend.
The downtrend may be expected to continue while pair is trading below resistance level 1.6250, which will be followed by reaching support level 1.5720 - 1.5525.
Alternative scenario:
An uptrend will start as soon, as the pair rises above resistance level 1.6250, which will be followed by moving up to resistance level 1.6660.
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Previous forecast:
Long-Term Forecast: May - August
Main scenario:
The pair is trading along an uptrend.
A downtrend has already started from resistace level 1.7040, which will be followed by moving down to support level 1.6250 and then to 1.5500 - 1.5200.
Alternative scenario:
An uptrend will start as soon, as the pair rises above resistance level 1.7230, which will be followed by moving up to resistance level 1.7800 and 1.9200.
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