Technical analysis for the GBPUSD on 27.11.2015

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The GBPUSD ahead of the GDP news

gbpusd9

Upside correction from 1.5055 support begins to turn down, which is confirmed by the breakout of 1.5105 support.

Despite a short-term signal in favor of the downtrend, the key driver on today’s session will be the release of significant GDP news.

If bulls fail to break the 1.5106 resistance amid the news, the price will continue its medium-term decline towards 1.5055, 1.5025, 1.5000, 1.4900.

Alternative scenario:

The breakout of 1.5105 resistance will allow bulls to continue correction up. Potential growth targets will be situated at 1.5165, 1.5200, 1.5245.

 

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