JuliaFX

Forecast for 25-29 April 2016

FX:GBPUSD   British Pound/U.S. Dollar
First, a review of last week’s forecast:
Despite the fact that most analysts predicted that GBP/USD             would gravitate toward last February’s lows, the pair fulfilled the forecast of the remaining 15% of the analysts and went to the upper boundary of the side channel of 1.4050-1.4450, within which it has been moving for the sixth weeks in a row.

Forecast for Coming 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 predicted:
Even though GBP/USD             disappointed most experts last week, the main forecast for the pair stands – moving down. This is backed by 75% of the experts who believe that the pair should bounce off the upper boundary of the side channel of 1.4050-1.4450 and go down to its bottom boundary in the near future. Graphical analysis on D1 points out that after breaking through it, GBP/USD             will still reach February’s lows around 1.3850. However, it may happen no earlier than the first or second decade of May.

Roman Butko, NordFX
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