Daily forecast, 05.10.16: rebounding from main support 1.4380
Main scenario:
GBP/USD is trading along a sideways trend between support 1.4380 and resistance 1.4480.
An uptrend will start as soon as the pair rises above resistance level 1.4480, which will be followed by moving up to resistance level 1.4600.
Alternative scenario:
The downtrend may be expected to continue if the market drops below support level 1.4380, which will be followed by reaching support level 1.4315.
Previous forecast:
Weekly forecast, May 09 - 13: break up of 1.4480 will open target on 1.4770
Main scenario:
Market is rebounding from the main support level 1.4380. From that, uptrend will start as soon as the pair rises above resistance level 1.4480, which will be followed by moving up to resistance level 1.4770.
Alternative scenario:
The downtrend may be expected to continue if the market drops below support level 1.4380, which will be followed by reaching support level 1.4130.
Previous forecast:
Monthly forecast, May 2016: break down of 1.4480 open a target on 1.4130
Main scenario:
The pair is trading along a sideways trend between support 1.4480 and resistance 1.4815.
A downtrend will start as soon as the pair drops below support level 1.4480, which will be followed by moving down to support level 1.4130.
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 1.5130.
Previous forecast:
Quarterly forecast, April - May, 2016: break down of 1.4480 open a target on 1.3900 - 1.3700
Main scenario:
The pair is trading along a sideways trend between support 1.4480 and resistance 1.4815.
A downtrend will start as soon as the pair drops below support level 1.4480, which will be followed by moving down to support level 1.4130 and 1.3900 - 1.3700.
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 1.5130 and 1.5700.
Previous forecast:
Yearly forecast, 2016
Main scenario:
The pair is trading along a downtrend with target on 1.4070, that may be expected to continue while pair is trading below resistance level 1.5440. If market will keep on moving down below 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.