GBP/USD Trades Along A Sideways Trend
Forex Million | Sep 30, 2014 04:14AM ET
Main scenario:
The GBP/USD is trading along a sideways trend.
An downtrend is already started from resistance level 1.6285, which will be followed by moving down to support level 1.6230 and then to 1.6170.
Alternative scenario:
An uptrend will start as soon as the pair rises above resistance level 1.6290, which will be followed by moving up to resistance level 1.6330 and then to 1.6400.
Previous forecast:
Weekly Forecast: 29 September - 03 October
Main scenario:
The pair is trading along a downtrend.
The downtrend may be expected to continue while pair is trading below resistance level 1.6285, which will be followed by reaching support level 1.6170 and if it keeps on moving down below that level, we may expect the pair to reach support level 1.6040.
Alternative scenario:
An uptrend will start as soon as the pair rises above resistance level 1.6285, which will be followed by moving up to resistance level 1.6400 and if it keeps on moving up above that level, we may expect the pair to reach resistance level 1.6600.
Previous forecast:
Get The News You Want
Monthly Forecast: October - November
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 1.5730.
Alternative scenario:
An uptrend will start as soon as the pair rises above resistance level 1.6400, which will be followed by moving up to resistance level 1.720.
Previous forecast:
Long-Term Forecast: May - August
Main scenario:
The pair is trading along an uptrend.
An 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.
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.