The experts suggested that GBP/USD would be moving in a sideways channel of 1.4900-1.5250. It did happen – the pair pushed off the top boundary of the channel on Monday, went down decisively and came to a standstill at the bottom boundary of 1.4893 Friday night.
Forecast for the upcoming week.
Summarizing the opinions of analysts from world leading banks and broker companies as well as forecasts based on different methods of technical and graphical analysis, the following can be put forward:
All indicators clearly point downward for GBP/USD . Being aware of the upcoming Christmas holidays unlike the indicators, the analysts predict the pair will transition into a sideways trend in the range of 1.4680-1.5000 with a 1.4890 . Graphical analysis on D1 supports them and indicates further sentiment.
Roman Butko, NordFX