Technical analysis for the GBPUSD on 25.11.2015


The GBPUSD broke tough support at 1.5105


Bears broke and held below strong support of 1.5025 on yesterday’s session. This barrier is now acting as resistance, which is being tested at the moment.

If the re-test of the 1.5025 mark is followed by a long consolidation amid low volumes, we’ll be expecting the rebound down.

Potential decline target in this case will be situated at 1.5025 support formed on 06.11.2015. The approaching to the above mentioned level will most likely trigger a pullback up.

Alternative scenario:    

The downtrend will reverse up for correction if bulls manage to break resistance at 1.5105. The closest correction target will be found at 1.5165.


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Hello, my name is Artem. If you ask me “Why have you chosen Forex?”, I would quote a legendary bestseller “Trading for a Living” written by Alexander Elder – the greatest trader of all time: “You can be free. Live and work in any corner of the globe. You can set aside everyday troubles and be free from all bosses. This is the life of a successful trader”(a small step aside.) Now I will tell you a few words about myself: I have a two-year experience of Forex trading. I also have a trading certificate confirming that I have passed a course called “Theory and practice of international financial markets” held by a private consulting company. Currently, I’m trading in a foreign exchange market and reading books written by successful world traders. I believe only in technical analysis, as it is based on crowd psychology, while the crowd behavior is primitive.