GBP/USD, Weekly Forecast, May 16 - 20: Rebounding from Resistance 1.4525 to Support 1.4345

GBP/USD, Weekly Forecast, May 16 - 20: Rebounding from Resistance 1.4525 to Support 1.4345

17 May 2016, 12:30
Roberto Jacobs
0
7

GBP/USD, Weekly Forecast, May 16 - 20: Rebounding from Resistance 1.4525 to Support 1.4345

Main scenario:
Market is rebounding from the resistance 1.4525 with target on support level 1.4345.

Alternative scenario:
An downtrend will start as soon, as the pair drops below support level 1.4525, which will be followed by moving down to support level 1.4670.


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