GBP/USD: Downtrend Expected To Continue
Forex Million | Aug 07, 2014 05:17AM ET
Main scenario:
The GBP/USD pair is trading along an sideways trend.
The downtrend may be expected to continue in case the market drops below support level 1.6825, which will be followed by reaching support level 1.6720.
Alternative scenario:
An uptrend will start as soon, as the pair rises above resistance level 1.6855, which will be followed by moving up to resistance level 1.6920.
Previous forecast:
Weekly Forecast, 04 - 08 August
Main scenario:
The pair is trading along an downtrend.
The downtrend may be expected to continue in case the market drops below support level 1.6810, which will be followed by reaching support level 1.6720 and then to 1.6430.
Alternative scenario:
An uptrend will start as soon, as the pair rises above resistance level 1.6890, which will be followed by moving up to resistance level 1.7040 and if it keeps on moving up above that level, we may expect the pair to reach resistance level 1.7200.
Previous forecast:
Monthly forecast, August - September (updated 08/04/14)
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Main scenario:
The pair is trading along an downtrend.
The downtrend may be expected to continue while pair is trading below resistance level 1.7040, which will be followed by reaching support level 1.6720 and if it keeps on moving down below that level, we may expect the pair to reach support level 1.6320.
Alternative scenario:
An uptrend will start as soon, as the pair rises above resistance level 1.7200, which will be followed by moving up to resistance level 1.7500.
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.
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