Stefan Schlemm: GBPUSD - Fractal forecast

GBPUSD - forecast for thursday
The pair trades in a side trend, bouncing from the resistance level of 1.5626, by the growth over than which the development of the upward trend for the purpose of the growth on the level of 1.5770 will start. If the pair can't rise upper this resistance, after that moves below the support level of 1.5587, the development of the downward trend for the purpose of the lowing on the support level of 1.5476 will start.

GBPUSD - weekly forecast
Alligator is located lower than the pricing chart, that indicates the development of the upward trend. In order to approve its development the pair needs to rise upper the level of resistance of 1.5469, after that the growth on the intermediate resistance of 1.5583 will happen, with the further growth upper that the resistance of 1.5485 will be achieved. The development of the downward trend will start in a case of the movement of the pair below the support level of 1.5363, after that the lowing on the intermediate support of 1.5290 will happen, with the further movement below that the support of 1.5165 will be achieved.

GBPUSD - monthly forecast
Alligator is lower than the pricing chart,the indicator AC is in the upper zone, that indicates the development of the upward trend. At the current moment is too close to the key resistance level of 1.5120, that can change the current trend to the downward one. That is why we should consider the continuation of the upward trend by the fact of the growth of the pair over the resistance of 1.5120, after that the growth to the resistance level of 1.5469 will happen, by the further growth over than which the resistance of 1.5784 will be achieved.
The downward trend will start in case of the movement of the pair below the key support of 1.4855, after that the lowering to the support level of 1.4655 will happen, by the further drop lower than which the support of 1.4279 will be achieved.
The bounce from the support of 1.4655 is also possible, in case if the pair rises over the level of 1.4855 by the bounce, after that the growth to the resistance of 1.5120 and of 1.5469 will happen.

ForexHunt





