Fluctuation Analysis of GBPUSD for 16.02.2017

Yesterday the pair rebounded from the interest rate zone at 1.24777 and had a downtrend, completed a false breakout from the balance level of control zones at 1.24080 and returned back into the zone. Thus, it is accurate to forecast the continuing uptrend of the price towards the top control zone at 1.27280 – 1.27900.

Today the pair is traded under the interest rate zone at 1.24777. A breakout from this zone will mark the interest rate zone at 1.25371 as the new target for the currency pair. If the price completes a breakout from this zone it will head towards the interest rate zone at 1.25970. Another possibility is the potential uptrend if the price returns to the balance level of control zones at 1.24080.

An alternative movement of the currency pair can be expected if the price rebound from the interest rate zone at 1.24777 and a downtrend towards the balance level of control zones at 1.24080. A breakout from this zone will mark the zone at 1.23579 as the new target.


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