GBPUSD Forecast:

Discussion in 'Technical Analysis' started by fxhighroller, Apr 1, 2015.

  1. fxhighroller

    fxhighroller Trader

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    The GBPUSD failed at 1.4987 and tumbled to a lower edge of its trading range 1.4800-1.5000 because of election risk. During the European session the cable dipped to 1.4750 despite the upward revision of the Q4 2014 GDP and a fall in Q4 current account deficit. later on today during the US session the pair managed to bounce off the current lows and returns back above 1.4800. If the pair holds recent gains we expect another test of the 1.4980/1.5000 level. [ url deleted ]
     

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  2. Dmitriy Enrst

    Dmitriy Enrst Active Trader

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    The upward correction of the GBPUSD continues. The pair is expected to test the resistance at 1.5288. Moreover, this level was broken, which led to the growth of the pair to 1.5347. Next bulls may test resistance near 1.5375 break through which would open the way toward 1.5500 level. You can open some long positions with rollbacks.
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  3. Steve Lock

    Steve Lock Active Trader

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    [​IMG]

    If the market can get back above the 1.55 handle, I am a buyer and anticipate the pair to reach towards the 1.57 handle.
     
  4. Dmitriy Enrst

    Dmitriy Enrst Active Trader

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    The pair growth will be short-lived. Most likely it will test the level of 1.5375, and rebound to the 1.5295 support level.
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  5. Dmitriy Enrst

    Dmitriy Enrst Active Trader

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    On Friday bulls tried to dominate at GBPUSD pair. And they even could break 1.5766 resistance. But test of 1.5600 level is likely to appear soon. If this pair goes under 1.5705 level, there will be a upward trend.
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  6. Dmitriy Enrst

    Dmitriy Enrst Active Trader

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    H15, GBPUSD made a new wave through to 1.5647 resistance level. This pair got a strong 1.5579 support level, and now it forms the third upward wave.
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  7. Dmitriy Enrst

    Dmitriy Enrst Active Trader

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    The price for this pair has begun a downward movement. I sww on the chart that price is below the neutral zone 1,5612-1,5576, but so far not managed to fixate below the line GRaB. The indicators give a sell signal. Wave marking is forming ascending wave 3.I expect consolidation below the line and GRaB the continued decline of the pair.
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  8. Dmitriy Enrst

    Dmitriy Enrst Active Trader

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    During the second week in run, the pair GBP USD has been in the upward correction. Potential target of this correction is the downward trend line 1.5690 - 1.5700. Test of the trend line is more likely to lead to bounce of the price downwards.
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  9. Dmitriy Enrst

    Dmitriy Enrst Active Trader

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    I consider the possibility of breakdown of the level 1.5200, I opened Sell at 1.5221 with Stop at 1.5265 and Take profit at 1.5130. Upon growth, I will added to the Sell up to 1.5260. Today we have no significant news and the overall bearish trend may continue.
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  10. Dmitriy Enrst

    Dmitriy Enrst Active Trader

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    The pair is being traded on the level of 1.5400 support, I expect it to grow to the resistance level 1.5500 and then in case of breaking it through, to set a new upward trend. If the support does not resist, then growth of the pair will be cancelled and perhaps then we will see beginning of a new downward trend in the form of correction

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