http://forexmillion.com/ ru FOREXMILLION - forex forecast, trading signals DataLife Engine http://forexmillion.com/forex-forecast/gbp-usd/470-gbpusd-forecast.html http://forexmillion.com/forex-forecast/gbp-usd/470-gbpusd-forecast.html Today chart - Forecast of the week, 07/12–07/16 Last week the pair quit from the uptrend boundaries (black dotted lines; the pair went below level 1.5030), which was supposed to provoke the market to drop to level 1.4600. The pair is currently trading at support level 1.4970. If it goes below level 1.4938, the downside momentum will grow stronger and the drop target will be set at support level 1.4835. Further drop below level 1.4820 will cause the downside momentum to grow even more upon the fact of quitting from another major uptrend (black dotted). And then the market will drop to support level 1.4600. Otherwise, an uptrend will be started in case the pair rises above level 1.5192, which will be followed by moving up to resistance level 1.5610. Forecast monthly, June After getting under level 1.4500 the pair went into the downtrend having the drop target seen at support level 1.4070. This trend remains in effect until the pair rises above level 1.4654. In case the pair rises above level 1.4654, an uptrend will be started having the upside target set at resistance level 1.5100, while intermediate support will be found at level 1.4654.   Quarterly forecast, May – July After touching key support level 1.4260 the pair is trading along the “E-E+” downtrend. That support level may become the endpoint of current downtrend, and even the starting point of an uptrend if the market rises above level 1.5450. Upon rising above level 1.5450, an uptrend will be developed with the upside target set at key resistance level 1.6900, from where a correction to support 1.5450 will be possible. Next, if the pair goes on above resistance 1.6900, the upside momentum will go stronger and the pair will head to resistance level 1.8530. Otherwise, if level 1.4260 fails keeping the pair from downside attempts and the market drops below level 1.4100, the downtrend will be resumed and the pair will get to support level 1.3230.   Yearly forecast, 2010 – 2011. After touching key support level 1.4260 the pair is trading along a downtrend. If the market rises above level 1.5450, support level 1.4260 may become the starting point of an uptrend (taking into consideration the picture at weekly graph), and then the pair will get to key resistance 1.6900. A confident uptrend will be started as soon as the pair gets over that key resistance. In such case a “double bottom” trend-turning figure will be formed and the upside target will be set at intermediate resistance level 1.8530 (possibly accompanied by a correction to support 1.6900). If the market continues the upside after that, it will eventually find itself around key resistance 1.9800. Otherwise, if the pair continues going down below key support 1.4260 and gets under level 1.4100, the downtrend will be resumed with the drop target set at intermediate support 1.3690. If the market continues the downside below that support, next target will be seen at support level 1.3230. That level is a strong support, however if the pair manages going under it, the downside momentum will grow even stronger, and the pair will eventually get to level 1.0000. GBP/USD Kolganov Anton Wed, 14 Jul 2010 14:45:00 +0300 http://forexmillion.com/forex-forecast/gbp-usd/467-gbpusd-forecast.html http://forexmillion.com/forex-forecast/gbp-usd/467-gbpusd-forecast.html Today chart - Forecast of the week, 07/05–07/09 The pair is trading along an uptrend. Level 1.5125 is a strong support, and so we may expect a strong rebound from that level with consecutive development of an uptrend. Further uptrend will be confirmed in case the pair rises above resistance level 1.5200. This will be followed by moving up to resistance 1.5340, and if the pair goes on rising above, it will then reach resistance 1.5500. A downtrend will be started in case the market drops below level 1.4960, which will be followed by mowing down to support level 1.4770. If the pair will keep moving down below that level, it will get to level 1.4360. Forecast monthly, June After getting under level 1.4500 the pair went into the downtrend having the drop target seen at support level 1.4070. This trend remains in effect until the pair rises above level 1.4654. In case the pair rises above level 1.4654, an uptrend will be started having the upside target set at resistance level 1.5100, while intermediate support will be found at level 1.4654.   Quarterly forecast, May – July After touching key support level 1.4260 the pair is trading along the “E-E+” downtrend. That support level may become the endpoint of current downtrend, and even the starting point of an uptrend if the market rises above level 1.5450. Upon rising above level 1.5450, an uptrend will be developed with the upside target set at key resistance level 1.6900, from where a correction to support 1.5450 will be possible. Next, if the pair goes on above resistance 1.6900, the upside momentum will go stronger and the pair will head to resistance level 1.8530. Otherwise, if level 1.4260 fails keeping the pair from downside attempts and the market drops below level 1.4100, the downtrend will be resumed and the pair will get to support level 1.3230.   Yearly forecast, 2010 – 2011. After touching key support level 1.4260 the pair is trading along a downtrend. If the market rises above level 1.5450, support level 1.4260 may become the starting point of an uptrend (taking into consideration the picture at weekly graph), and then the pair will get to key resistance 1.6900. A confident uptrend will be started as soon as the pair gets over that key resistance. In such case a “double bottom” trend-turning figure will be formed and the upside target will be set at intermediate resistance level 1.8530 (possibly accompanied by a correction to support 1.6900). If the market continues the upside after that, it will eventually find itself around key resistance 1.9800. Otherwise, if the pair continues going down below key support 1.4260 and gets under level 1.4100, the downtrend will be resumed with the drop target set at intermediate support 1.3690. If the market continues the downside below that support, next target will be seen at support level 1.3230. That level is a strong support, however if the pair manages going under it, the downside momentum will grow even stronger, and the pair will eventually get to level 1.0000. GBP/USD Kolganov Anton Tue, 06 Jul 2010 14:48:38 +0300 http://forexmillion.com/forex-forecast/gbp-usd/464-gbpusd-forecast.html http://forexmillion.com/forex-forecast/gbp-usd/464-gbpusd-forecast.html Today chart Forecast of the week, 06/21–06/25 The pair is still trading along an uptrend having the upside target seen at resistance levels 1.5000/1.5065. The market has reached resistance 1.4926 by now, and relative support is found at level 1.4832. If the pair goes on rising above 1.4926, the upside momentum will grow stronger. Otherwise, we should expect a downtrend to develop in case the pair goes below support level 1.4804, followed by further drop to support 1.4510. After that the pair will find an intermediate support at level 1.4698. Forecast monthly, June After getting under level 1.4500 the pair went into the downtrend having the drop target seen at support level 1.4070. This trend remains in effect until the pair rises above level 1.4654. In case the pair rises above level 1.4654, an uptrend will be started having the upside target set at resistance level 1.5100, while intermediate support will be found at level 1.4654.   Quarterly forecast, May – July After touching key support level 1.4260 the pair is trading along the “E-E+” downtrend. That support level may become the endpoint of current downtrend, and even the starting point of an uptrend if the market rises above level 1.5450. Upon rising above level 1.5450, an uptrend will be developed with the upside target set at key resistance level 1.6900, from where a correction to support 1.5450 will be possible. Next, if the pair goes on above resistance 1.6900, the upside momentum will go stronger and the pair will head to resistance level 1.8530. Otherwise, if level 1.4260 fails keeping the pair from downside attempts and the market drops below level 1.4100, the downtrend will be resumed and the pair will get to support level 1.3230.   Yearly forecast, 2010 – 2011. After touching key support level 1.4260 the pair is trading along a downtrend. If the market rises above level 1.5450, support level 1.4260 may become the starting point of an uptrend (taking into consideration the picture at weekly graph), and then the pair will get to key resistance 1.6900. A confident uptrend will be started as soon as the pair gets over that key resistance. In such case a “double bottom” trend-turning figure will be formed and the upside target will be set at intermediate resistance level 1.8530 (possibly accompanied by a correction to support 1.6900). If the market continues the upside after that, it will eventually find itself around key resistance 1.9800. Otherwise, if the pair continues going down below key support 1.4260 and gets under level 1.4100, the downtrend will be resumed with the drop target set at intermediate support 1.3690. If the market continues the downside below that support, next target will be seen at support level 1.3230. That level is a strong support, however if the pair manages going under it, the downside momentum will grow even stronger, and the pair will eventually get to level 1.0000. GBP/USD Kolganov Anton Wed, 23 Jun 2010 13:02:25 +0300 http://forexmillion.com/forex-forecast/gbp-usd/461-gbpusd-forecast.html http://forexmillion.com/forex-forecast/gbp-usd/461-gbpusd-forecast.html Today chart Forecast of the week, 06/07 – 06/11 The pair is trading along the downtrend having the drop target set at support level 1.4255. If it keeps on moving down below that level, it will reach support 1.4070. As soon as the pair gets under level 1.4374, the downside momentum will grow stronger. Otherwise, an uptrend will be started in case the pair rises above level 1.4654, which will be followed by moving up to resistance level 1.4926. Forecast monthly, June After getting under level 1.4500 the pair went into the downtrend having the drop target seen at support level 1.4070. This trend remains in effect until the pair rises above level 1.4654. In case the pair rises above level 1.4654, an uptrend will be started having the upside target set at resistance level 1.5100, while intermediate support will be found at level 1.4654.   Quarterly forecast, May – July After touching key support level 1.4260 the pair is trading along the “E-E+” downtrend. That support level may become the endpoint of current downtrend, and even the starting point of an uptrend if the market rises above level 1.5450. Upon rising above level 1.5450, an uptrend will be developed with the upside target set at key resistance level 1.6900, from where a correction to support 1.5450 will be possible. Next, if the pair goes on above resistance 1.6900, the upside momentum will go stronger and the pair will head to resistance level 1.8530. Otherwise, if level 1.4260 fails keeping the pair from downside attempts and the market drops below level 1.4100, the downtrend will be resumed and the pair will get to support level 1.3230.   Yearly forecast, 2010 – 2011. After touching key support level 1.4260 the pair is trading along a downtrend. If the market rises above level 1.5450, support level 1.4260 may become the starting point of an uptrend (taking into consideration the picture at weekly graph), and then the pair will get to key resistance 1.6900. A confident uptrend will be started as soon as the pair gets over that key resistance. In such case a “double bottom” trend-turning figure will be formed and the upside target will be set at intermediate resistance level 1.8530 (possibly accompanied by a correction to support 1.6900). If the market continues the upside after that, it will eventually find itself around key resistance 1.9800. Otherwise, if the pair continues going down below key support 1.4260 and gets under level 1.4100, the downtrend will be resumed with the drop target set at intermediate support 1.3690. If the market continues the downside below that support, next target will be seen at support level 1.3230. That level is a strong support, however if the pair manages going under it, the downside momentum will grow even stronger, and the pair will eventually get to level 1.0000. GBP/USD Kolganov Anton Thu, 10 Jun 2010 10:10:05 +0300 http://forexmillion.com/forex-forecast/gbp-usd/458-gbpusd-forecast.html http://forexmillion.com/forex-forecast/gbp-usd/458-gbpusd-forecast.html Today chart Forecast of the week, 06/07 – 06/11 The pair is trading along the downtrend having the drop target set at support level 1.4255. If it keeps on moving down below that level, it will reach support 1.4070. As soon as the pair gets under level 1.4374, the downside momentum will grow stronger. Otherwise, an uptrend will be started in case the pair rises above level 1.4654, which will be followed by moving up to resistance level 1.4926. Forecast monthly, June After getting under level 1.4500 the pair went into the downtrend having the drop target seen at support level 1.4070. This trend remains in effect until the pair rises above level 1.4654. In case the pair rises above level 1.4654, an uptrend will be started having the upside target set at resistance level 1.5100, while intermediate support will be found at level 1.4654.   Quarterly forecast, May – July After touching key support level 1.4260 the pair is trading along the “E-E+” downtrend. That support level may become the endpoint of current downtrend, and even the starting point of an uptrend if the market rises above level 1.5450. Upon rising above level 1.5450, an uptrend will be developed with the upside target set at key resistance level 1.6900, from where a correction to support 1.5450 will be possible. Next, if the pair goes on above resistance 1.6900, the upside momentum will go stronger and the pair will head to resistance level 1.8530. Otherwise, if level 1.4260 fails keeping the pair from downside attempts and the market drops below level 1.4100, the downtrend will be resumed and the pair will get to support level 1.3230.   Yearly forecast, 2010 – 2011. After touching key support level 1.4260 the pair is trading along a downtrend. If the market rises above level 1.5450, support level 1.4260 may become the starting point of an uptrend (taking into consideration the picture at weekly graph), and then the pair will get to key resistance 1.6900. A confident uptrend will be started as soon as the pair gets over that key resistance. In such case a “double bottom” trend-turning figure will be formed and the upside target will be set at intermediate resistance level 1.8530 (possibly accompanied by a correction to support 1.6900). If the market continues the upside after that, it will eventually find itself around key resistance 1.9800. Otherwise, if the pair continues going down below key support 1.4260 and gets under level 1.4100, the downtrend will be resumed with the drop target set at intermediate support 1.3690. If the market continues the downside below that support, next target will be seen at support level 1.3230. That level is a strong support, however if the pair manages going under it, the downside momentum will grow even stronger, and the pair will eventually get to level 1.0000. GBP/USD Kolganov Anton Wed, 09 Jun 2010 13:17:14 +0300 http://forexmillion.com/forex-forecast/gbp-usd/455-gbpusd-forecast.html http://forexmillion.com/forex-forecast/gbp-usd/455-gbpusd-forecast.html Today chart Forecast of the week, 06/07 – 06/11 The pair is trading along the downtrend having the drop target set at support level 1.4255. If it keeps on moving down below that level, it will reach support 1.4070. As soon as the pair gets under level 1.4374, the downside momentum will grow stronger. Otherwise, an uptrend will be started in case the pair rises above level 1.4654, which will be followed by moving up to resistance level 1.4926. Forecast monthly, June After getting under level 1.4500 the pair went into the downtrend having the drop target seen at support level 1.4070. This trend remains in effect until the pair rises above level 1.4654. In case the pair rises above level 1.4654, an uptrend will be started having the upside target set at resistance level 1.5100, while intermediate support will be found at level 1.4654.   Quarterly forecast, May – July After touching key support level 1.4260 the pair is trading along the “E-E+” downtrend. That support level may become the endpoint of current downtrend, and even the starting point of an uptrend if the market rises above level 1.5450. Upon rising above level 1.5450, an uptrend will be developed with the upside target set at key resistance level 1.6900, from where a correction to support 1.5450 will be possible. Next, if the pair goes on above resistance 1.6900, the upside momentum will go stronger and the pair will head to resistance level 1.8530. Otherwise, if level 1.4260 fails keeping the pair from downside attempts and the market drops below level 1.4100, the downtrend will be resumed and the pair will get to support level 1.3230.   Yearly forecast, 2010 – 2011. After touching key support level 1.4260 the pair is trading along a downtrend. If the market rises above level 1.5450, support level 1.4260 may become the starting point of an uptrend (taking into consideration the picture at weekly graph), and then the pair will get to key resistance 1.6900. A confident uptrend will be started as soon as the pair gets over that key resistance. In such case a “double bottom” trend-turning figure will be formed and the upside target will be set at intermediate resistance level 1.8530 (possibly accompanied by a correction to support 1.6900). If the market continues the upside after that, it will eventually find itself around key resistance 1.9800. Otherwise, if the pair continues going down below key support 1.4260 and gets under level 1.4100, the downtrend will be resumed with the drop target set at intermediate support 1.3690. If the market continues the downside below that support, next target will be seen at support level 1.3230. That level is a strong support, however if the pair manages going under it, the downside momentum will grow even stronger, and the pair will eventually get to level 1.0000. GBP/USD Kolganov Anton Tue, 08 Jun 2010 15:42:31 +0300 http://forexmillion.com/forex-forecast/gbp-usd/452-gbpusd-forecast.html http://forexmillion.com/forex-forecast/gbp-usd/452-gbpusd-forecast.html Today chart Forecast of the week, 05/31 – 06/04. The market is trading along sideways trend. After rebounding from the “E” trendline and breaking the “B+” trendline the market gets a chance to develop an uptrend. However the start of development must be accompanied by the break of new trend’s confirmation level. In case the pair rises above level 1.4655, an uptrend will be started with the upside target seen at resistance level 1.4938. If the pair keeps on rising above that level, it will then get to resistance 1.5150. Otherwise, if the pair goes below level 1.4310, a downtrend will be started with the drop target seen at key support level 1.4150. If the pair goes below level 1.4080 the downside momentum will grow stronger and the next drop target will be set at level 1.3690. Forecast monthly, June. The pair is trading along a downtrend. Rebounding from the “E” trendline and break of the “B+” trendline speak in favor of an uptrend development, which will be started in case the pair rises above level 1.4655 with the upside target set at level 1.5150 and then at 1.5450. Downtrend may be continued in case the pair goes under level 1.4080. If so, the market will drop to intermediate support level 1.3690, which will be followed by possible rebound back to resistance level 1.4055 and further downside to key support level 1.3370.   Quarterly forecast, May – July After touching key support level 1.4260 the pair is trading along the “E-E+” downtrend. That support level may become the endpoint of current downtrend, and even the starting point of an uptrend if the market rises above level 1.5450. Upon rising above level 1.5450, an uptrend will be developed with the upside target set at key resistance level 1.6900, from where a correction to support 1.5450 will be possible. Next, if the pair goes on above resistance 1.6900, the upside momentum will go stronger and the pair will head to resistance level 1.8530. Otherwise, if level 1.4260 fails keeping the pair from downside attempts and the market drops below level 1.4100, the downtrend will be resumed and the pair will get to support level 1.3230.   Yearly forecast, 2010 – 2011. After touching key support level 1.4260 the pair is trading along a downtrend. If the market rises above level 1.5450, support level 1.4260 may become the starting point of an uptrend (taking into consideration the picture at weekly graph), and then the pair will get to key resistance 1.6900. A confident uptrend will be started as soon as the pair gets over that key resistance. In such case a “double bottom” trend-turning figure will be formed and the upside target will be set at intermediate resistance level 1.8530 (possibly accompanied by a correction to support 1.6900). If the market continues the upside after that, it will eventually find itself around key resistance 1.9800. Otherwise, if the pair continues going down below key support 1.4260 and gets under level 1.4100, the downtrend will be resumed with the drop target set at intermediate support 1.3690. If the market continues the downside below that support, next target will be seen at support level 1.3230. That level is a strong support, however if the pair manages going under it, the downside momentum will grow even stronger, and the pair will eventually get to level 1.0000. GBP/USD Kolganov Anton Thu, 03 Jun 2010 10:37:31 +0300 http://forexmillion.com/forex-forecast/gbp-usd/449-gbpusd-forecast.html http://forexmillion.com/forex-forecast/gbp-usd/449-gbpusd-forecast.html Today chart Forecast of the week, 05/31 – 06/04. The market is trading along sideways trend. After rebounding from the “E” trendline and breaking the “B+” trendline the market gets a chance to develop an uptrend. However the start of development must be accompanied by the break of new trend’s confirmation level. In case the pair rises above level 1.4655, an uptrend will be started with the upside target seen at resistance level 1.4938. If the pair keeps on rising above that level, it will then get to resistance 1.5150. Otherwise, if the pair goes below level 1.4310, a downtrend will be started with the drop target seen at key support level 1.4150. If the pair goes below level 1.4080 the downside momentum will grow stronger and the next drop target will be set at level 1.3690. Forecast monthly, June. The pair is trading along a downtrend. Rebounding from the “E” trendline and break of the “B+” trendline speak in favor of an uptrend development, which will be started in case the pair rises above level 1.4655 with the upside target set at level 1.5150 and then at 1.5450. Downtrend may be continued in case the pair goes under level 1.4080. If so, the market will drop to intermediate support level 1.3690, which will be followed by possible rebound back to resistance level 1.4055 and further downside to key support level 1.3370.   Quarterly forecast, May – July After touching key support level 1.4260 the pair is trading along the “E-E+” downtrend. That support level may become the endpoint of current downtrend, and even the starting point of an uptrend if the market rises above level 1.5450. Upon rising above level 1.5450, an uptrend will be developed with the upside target set at key resistance level 1.6900, from where a correction to support 1.5450 will be possible. Next, if the pair goes on above resistance 1.6900, the upside momentum will go stronger and the pair will head to resistance level 1.8530. Otherwise, if level 1.4260 fails keeping the pair from downside attempts and the market drops below level 1.4100, the downtrend will be resumed and the pair will get to support level 1.3230.   Yearly forecast, 2010 – 2011. After touching key support level 1.4260 the pair is trading along a downtrend. If the market rises above level 1.5450, support level 1.4260 may become the starting point of an uptrend (taking into consideration the picture at weekly graph), and then the pair will get to key resistance 1.6900. A confident uptrend will be started as soon as the pair gets over that key resistance. In such case a “double bottom” trend-turning figure will be formed and the upside target will be set at intermediate resistance level 1.8530 (possibly accompanied by a correction to support 1.6900). If the market continues the upside after that, it will eventually find itself around key resistance 1.9800. Otherwise, if the pair continues going down below key support 1.4260 and gets under level 1.4100, the downtrend will be resumed with the drop target set at intermediate support 1.3690. If the market continues the downside below that support, next target will be seen at support level 1.3230. That level is a strong support, however if the pair manages going under it, the downside momentum will grow even stronger, and the pair will eventually get to level 1.0000. GBP/USD Kolganov Anton Tue, 01 Jun 2010 12:49:14 +0300 http://forexmillion.com/forex-forecast/gbp-usd/446-gbpusd-forecast.html http://forexmillion.com/forex-forecast/gbp-usd/446-gbpusd-forecast.html Today chart Forecast for the week, 05/17 – 05/21 The pair is trading below the “a” trendline along a downtrend. It has reached key support 1.4260 recently. The lower bound of “E-E+” trend, “E” trendline, also passes through that support. Support 1.4260 is a very strong level, and so we may expect an uptrend to develop from there in case the pair rises above level 1.4500. If so, it will then get to resistance 1.4700. Upon further upside above that level the upside momentum will grow stronger and the pair will reach resistance 1.5130. Otherwise, if the pair goes below level 1.4100, the downtrend will be resumed and the market will head to level 1.3690. Monthly forecast, May – June The pair is trading along the “B-B+” downtrend rebounding off key support level 1.4260. Also, the lower bound of “E-E+” downtrend passes through that level. Therefore, the market gets two variants of events to proceed: 1. In case the pair rebounds off current support 1.4260 and rises above level 1.4700, an uptrend will start to develop with the upside target set at resistance level 1.5500 (the higher bound of “E-E+” downtrend). Intermediate resistance will be found at level 1.5130, and then a correction to support 1.4700 may proceed. Next, if the pair rises above level 1.5130, resistance will be seen at level 1.5330. 2. If current support 1.4260 fails keeping the pair from downside attempts and the market drops below level 1.4100, next drop target will be seen at support level 1.3690.   Quarterly forecast, May – July After touching key support level 1.4260 the pair is trading along the “E-E+” downtrend. That support level may become the endpoint of current downtrend, and even the starting point of an uptrend if the market rises above level 1.5450. Upon rising above level 1.5450, an uptrend will be developed with the upside target set at key resistance level 1.6900, from where a correction to support 1.5450 will be possible. Next, if the pair goes on above resistance 1.6900, the upside momentum will go stronger and the pair will head to resistance level 1.8530. Otherwise, if level 1.4260 fails keeping the pair from downside attempts and the market drops below level 1.4100, the downtrend will be resumed and the pair will get to support level 1.3230.   Yearly forecast, 2010 – 2011. After touching key support level 1.4260 the pair is trading along a downtrend. If the market rises above level 1.5450, support level 1.4260 may become the starting point of an uptrend (taking into consideration the picture at weekly graph), and then the pair will get to key resistance 1.6900. A confident uptrend will be started as soon as the pair gets over that key resistance. In such case a “double bottom” trend-turning figure will be formed and the upside target will be set at intermediate resistance level 1.8530 (possibly accompanied by a correction to support 1.6900). If the market continues the upside after that, it will eventually find itself around key resistance 1.9800. Otherwise, if the pair continues going down below key support 1.4260 and gets under level 1.4100, the downtrend will be resumed with the drop target set at intermediate support 1.3690. If the market continues the downside below that support, next target will be seen at support level 1.3230. That level is a strong support, however if the pair manages going under it, the downside momentum will grow even stronger, and the pair will eventually get to level 1.0000. GBP/USD Kolganov Anton Thu, 20 May 2010 11:33:00 +0300 http://forexmillion.com/forex-forecast/gbp-usd/444-gbpusd-forecast.html http://forexmillion.com/forex-forecast/gbp-usd/444-gbpusd-forecast.html Today chart Forecast for the week, 05/17 – 05/21 The pair is trading below the “a” trendline along a downtrend. It has reached key support 1.4260 recently. The lower bound of “E-E+” trend, “E” trendline, also passes through that support. Support 1.4260 is a very strong level, and so we may expect an uptrend to develop from there in case the pair rises above level 1.4500. If so, it will then get to resistance 1.4700. Upon further upside above that level the upside momentum will grow stronger and the pair will reach resistance 1.5130. Otherwise, if the pair goes below level 1.4100, the downtrend will be resumed and the market will head to level 1.3690. Monthly forecast, May – June The pair is trading along the “B-B+” downtrend rebounding off key support level 1.4260. Also, the lower bound of “E-E+” downtrend passes through that level. Therefore, the market gets two variants of events to proceed: 1. In case the pair rebounds off current support 1.4260 and rises above level 1.4700, an uptrend will start to develop with the upside target set at resistance level 1.5500 (the higher bound of “E-E+” downtrend). Intermediate resistance will be found at level 1.5130, and then a correction to support 1.4700 may proceed. Next, if the pair rises above level 1.5130, resistance will be seen at level 1.5330. 2. If current support 1.4260 fails keeping the pair from downside attempts and the market drops below level 1.4100, next drop target will be seen at support level 1.3690.   Quarterly forecast, May – July After touching key support level 1.4260 the pair is trading along the “E-E+” downtrend. That support level may become the endpoint of current downtrend, and even the starting point of an uptrend if the market rises above level 1.5450. Upon rising above level 1.5450, an uptrend will be developed with the upside target set at key resistance level 1.6900, from where a correction to support 1.5450 will be possible. Next, if the pair goes on above resistance 1.6900, the upside momentum will go stronger and the pair will head to resistance level 1.8530. Otherwise, if level 1.4260 fails keeping the pair from downside attempts and the market drops below level 1.4100, the downtrend will be resumed and the pair will get to support level 1.3230.   Yearly forecast, 2010 – 2011. After touching key support level 1.4260 the pair is trading along a downtrend. If the market rises above level 1.5450, support level 1.4260 may become the starting point of an uptrend (taking into consideration the picture at weekly graph), and then the pair will get to key resistance 1.6900. A confident uptrend will be started as soon as the pair gets over that key resistance. In such case a “double bottom” trend-turning figure will be formed and the upside target will be set at intermediate resistance level 1.8530 (possibly accompanied by a correction to support 1.6900). If the market continues the upside after that, it will eventually find itself around key resistance 1.9800. Otherwise, if the pair continues going down below key support 1.4260 and gets under level 1.4100, the downtrend will be resumed with the drop target set at intermediate support 1.3690. If the market continues the downside below that support, next target will be seen at support level 1.3230. That level is a strong support, however if the pair manages going under it, the downside momentum will grow even stronger, and the pair will eventually get to level 1.0000. GBP/USD Kolganov Anton Wed, 19 May 2010 12:38:04 +0300