Last week GBPUSD broke below the support on level 1.5330 and move down. Drop was stopped on next support 1.5160, which make today’s rebound. It is possible that we will see a re-test of previous support (now resistance) and return to falls. At this level there is also a 23.6% fibo of last downward movement which will strengthen this area. If indicated resistance will be broken GBPUSD will return to consolidation, which moved from July of 2015. If the September’s bottom will be increase that falls may keep only the level of 1.5000.

GBPUSD-H4

Time-frame H1

Since two weeks GBPUSD moves in a downward channel and today there has been an attempt of leave the channel. After such movement rebound had to happen but the reversal of the trend at the moment is a less likely scenario.

GBPUSD-H1

FXGROW_ang

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