GBP/USD: Downtrend With Target On 1.2700

GBP/USD

Main scenario:The pair is trading along a downtrend with target on 1.2700, that may be expected to continue, while pair is trading below resistance level 1.3025.

Alternative scenario:An uptrend will start as soon as the pair rises above resistance level 1.3025, which will be followed by moving up to resistance level 1.3300.

GBP/USD H1 Chart

Previous forecast:

GBP/USD H1 Chart

Weekly forecast, July 04 – 08: break up of 1.3555 will open target to 1.3910

Main scenario:The pair is trading along a sideways trend between support 1.3220 and resistance 1.3555.An uptrend will start as soon, as the pair rises above resistance level 1.3555, which will be followed by moving up to resistance level 1.3910.

Alternative scenario:A downtrend will start as soon, as the pair drops below support level 1.3220, which will be followed by moving down to support level 1.2700.

GBP/USD H4 Chart

Previous forecast:

GBP/USD H4 Chart

Monthly forecast, July 2016: break down of 1.3300 will open target to 1.2700

Main scenario:The pair is trading along a sideways trend between main support 1.3300 and resistance 1.3555.The downtrend may be expected to continue in case the market drops below support level 1.3300 – 1.3118, which will be followed by reaching support level 1.2700.Alternative scenario:An uptrend will start as soon as the pair rises above resistance level 1.3555, which will be followed by moving up to resistance level 1.3910 and 1.4600.

GBP/USD Daily Chart

Previous forecast:

GBP/USD Daily Chart

Quarterly forecast, July – September, 2016: break down of 1.3118 will open target to 1.2500 – 1.2000

Main scenario:The pair is trading along a downtrend and if it keeps on moving down below 1.3118, we may expect the pair to reach support level 1.2500 – 1.2000.Alternative scenario:An uptrend will start as soon as the pair rises above resistance level 1.3910, which will be followed by moving up to resistance level 1.4600 and 1.5120.

GBP/USD Weekly Chart

Previous forecast:

GBP/USD Weekly Chart

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 keeps on moving down below that 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.

GBP/USD Monthly Chart

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