Technical analysis for the GBP/USD – 30.11.2015


The price reached its first target on the way down at 1.5160/30 support and fell down to the next target at 1.5030. Bears are now attempting to break this barrier on the way down and hold below it – trading is carried out at around 1.5020/10. The indicators suggest dominating bearish potential and give reasons to expect the price to hold below 1.5030 and proceed to the next target at  1.4940 support, where from it’ll most likely commence another correction.



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About Author

Hello, my name is Arkady Nagiev and I’ve been working for Forex4you company since 2008. I received an economic education and worked in various sectors of former Soviet Union. After the dissolution of the USSR, I decided to engage in the banking sector. In 1994 I took "Banking" course in the Moscow International Financial and Banking School. After that, I worked in the banks of Turkmenistan and Ukraine. While working at the bank, I became interested in the foreign exchange market, which required additional knowledge and pushed me to study strategies and techniques for the analysis of foreign exchange instruments. At first, I thought that technical analysis would be enough, but I soon realized that I was wrong, and began to study fundamental analysis. I sincerely hope that my Forex reviews and financial analyses help our clients to gain a better understanding of the forex market. Good luck with your trading everyone!