GBP USD resumes the decline – Analysis - 06/10/2015
Economies.com
2015-10-06 04:52AM UTC
The GBPUSD pair trades with a bearish bias after testing 1.5245 level yesterday, where the price kept its stability below this level, which keeps the bearish trend scenario valid in the upcoming period, which its main targets begin by testing 1.5085 level that represents 61.8% Fibonacci correction level for the upside track that appears in the image.
We remind you that breaking the targeted level will extend the bearish wave to the next correctional level that located at 1.4885, while the bearish trend will remain valid unless breaching 1.5245 and 1.5290 levels and holding above them.
Expected trading range for today is between 1.5050 support and 1.5245 resistance.
Expected trend for today: Bearish
Forex and Currency News
Forex
Dollar rebounds ahead of US unemployment claims data
2024-05-02 11:10AM UTC
Dollar rose in European trade on Thursday against a basket of major rivals, resuming gains after a ...
Forex
Franc is best performing major currency after Swiss data
2024-05-02 07:52AM UTC
Swiss Franc rallied in European trade on Thursday, extending gains for the second straight day ...
Forex
Dollar parks at two-week highs ahead of Fed decisions
2024-05-01 11:37AM UTC
The dollar rose in European trade on Wednesday against a basket of major rivals, extending gains ...
Forex Technical Analysis
Forex
The GBPUSD forecast update 02-05-2024
2024-05-02 09:06AM UTC
GBPUSD Trading Report The GBPUSD price shows weak trades since morning, settling above 1.2500$ ...
Forex
The EURUSD price forecast update - 02-05-2024
2024-05-02 09:05AM UTC
EURUSD Trading Report The EURUSD price continues to fluctuate around 1.0715$ level, and we still ...
Forex
The EURGBP tests key support – Forecast today – 2-5-2024
2024-05-02 08:15AM UTC
Expected Scenarios The EURGBP price formed many bearish trades recently, to test 38.2% ...