GBP/USD: A Bottom On 1.4070 And Opportunity Of Uptrend To 1.4530
Anton Kolhanov | Jan 26, 2016 04:14AM ET
GBP/USD is trading along an sideways trend between support 1.4070, that is looking like a bottom of that downtrend, and resistance 1.4325.
An uptrend will start as soon, as the pair rises above resistance level 1.4325, which will be followed by moving up to resistance level 1.4530 and then to 1.4815.
Alternative scenario:
An downtrend will start as soon, as the pair drops below support level 1.4070, which will be followed by moving down to support level 1.3700.
previous forecast:
Monthly forecast, January 2016
Main scenario:
The pair is trading along an downtrend with target on 1.4630 and then on 1.4470, that may be expected to continue, while pair is trading below resistance level 1.4815.
Alternative scenario:
An uptrend will start as soon, as the pair rises above resistance level 1.4815, which will be followed by moving up to resistance level 1.5030 - 1.5140.
previous forecast:
Quarterly forecast, January - March, 2016
Main scenario:
The pair is trading along an downtrend with target on 1.4270 - 1.4070, that may be expected to continue, while pair is trading below resistance level 1.5030.
Alternative scenario:
An uptrend will start as soon, as the pair rises above resistance level 1.5030, which will be followed by moving up to resistance level 1.5440.
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previous forecast:
Main scenario:
The pair is trading along an downtrend with target on 1.4070, that may be expected to continue, while pair is trading below resistance level 1.5440. If market will keeps on moving down below that 1.4070, we may expect the pair to reach next support level 1.3300.
Alternative scenario:
An uptrend will start as soon, as the pair rises above resistance level 1.5440, which will be followed by moving up to resistance level 1.7130.
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