First, a review of last week's forecast:
- about 80% of the indicators and half of the experts voted for GBP/USD to go down to support at 1.5200 at the most. The remaining 50% of the experts and graphical analysis talked about a sideways trend with resistance around 1.5470. Both forecasts turned out to be right - first, GBP/USD gradually went down to 1.5225 but then recovered and reached 1.5470 Friday night.
Forecast for the coming week.
Summarizing opinions of several dozen analysts from leading banks and broker companies as well as forecasts made on the basis of different methods of technical and graphical analysis, the following can be proposed:
- graphical analysis and the experts predict some fluctuations for GBP/USD within a 1.5440-1.5470 range at the beginning of the week. Then the pair should go down under bearish pressure. Graphical analysis on H4 suggests that the main support will be 1.5315 while 33% of the analysts insist that the fall will be bigger and the weekly bottom will be at 1.5250.
- about 80% of the indicators and half of the experts voted for GBP/USD to go down to support at 1.5200 at the most. The remaining 50% of the experts and graphical analysis talked about a sideways trend with resistance around 1.5470. Both forecasts turned out to be right - first, GBP/USD gradually went down to 1.5225 but then recovered and reached 1.5470 Friday night.
Forecast for the coming week.
Summarizing opinions of several dozen analysts from leading banks and broker companies as well as forecasts made on the basis of different methods of technical and graphical analysis, the following can be proposed:
- graphical analysis and the experts predict some fluctuations for GBP/USD within a 1.5440-1.5470 range at the beginning of the week. Then the pair should go down under bearish pressure. Graphical analysis on H4 suggests that the main support will be 1.5315 while 33% of the analysts insist that the fall will be bigger and the weekly bottom will be at 1.5250.