First, about last week’s forecast:
Although GBP/USD finally reached the forecast resistance level of 1.4500, it did so only after it dropped considerably, breaking through all the expected support levels and rebounding from a 1.4052 bottom.
Forecast for Upcoming Week
Summarizing the views of several dozen analysts from leading banks and broker companies as well as forecasts based on different methods of technical and graphical analysis, the following can be suggested:
According to graphical analysis and 55% of the experts, GBP/USD may first move in a 1.4360-1.4650 sideways channel for several days and then drop sharply to 1.4230. The long-term forecast, supported by 60% of the analysts and graphical analysis on D1, suggests the pair should fall even more attempting to reach 1.3840, the low of the end of last February.
Roman Butko, NordFX
Although GBP/USD finally reached the forecast resistance level of 1.4500, it did so only after it dropped considerably, breaking through all the expected support levels and rebounding from a 1.4052 bottom.
Forecast for Upcoming Week
Summarizing the views of several dozen analysts from leading banks and broker companies as well as forecasts based on different methods of technical and graphical analysis, the following can be suggested:
According to graphical analysis and 55% of the experts, GBP/USD may first move in a 1.4360-1.4650 sideways channel for several days and then drop sharply to 1.4230. The long-term forecast, supported by 60% of the analysts and graphical analysis on D1, suggests the pair should fall even more attempting to reach 1.3840, the low of the end of last February.
Roman Butko, NordFX