The vast majority of the experts and graphical analysis predicted a sideways trend for GBP/USD , which happened. At first, the pair slowly went down to 1.5155, then went up to its level of one month ago and then fell again to the first support set by the experts – 1.5185.
Forecast for the upcoming week.
Summing up the opinions of several dozen analysts from world leading banks and broker companies as well as forecasts based on various methods of technical and graphical analysis, the following can be suggested:
Graphical analysis on H1 and H4 insists on GBP/USD’s upward rebound to 1.5250, then the pair should oscillate in a 1.5170-1.5250 corridor and drop to support at 1.5085. The next is 1.5025. On hitting the bottom, the pair is likely to return to around 1.5300, which is echoed by 65% of the analysts.
Roman Butko, NordFX