GBP/USD, Weekly Forecast, May 23 - 27: Break Up of 1.4530 Open Uptrend Target on 1.4670 and 1.4815

GBP/USD, Weekly Forecast, May 23 - 27: Break Up of 1.4530 Open Uptrend Target on 1.4670 and 1.4815

23 May 2016, 12:57
Roberto Jacobs
0
27

GBP/USD, Weekly Forecast, May 23 - 27: Break Up of 1.4530 Open Uptrend Target on 1.4670 and 1.4815

Main scenario:
The pair is trading along an sideways trend between support 1.4480 and resistance 1.4530, where break up of 1.4530 will open uptrend target on resistance 1.4670 and then on 1.4815.

Alternative scenario:
An downtrend will start as soon, as the pair drops below support level 1.4480, which will be followed by moving down to support level 1.4360 and 1.4290.


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