Forecast for 11-15 January 2016

FX:GBPUSD   British Pound / U.S. Dollar
First, about the forecast for the past week:
It was assumed that after a certain rise, GBP/USD             should reach a low of 1.4555 by mid-January. Nonetheless, this happened a week earlier as the pair arrived there last Friday.

Forecast for the coming week.
Summarizing the views of several dozen 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:
It’s quite clear that all indicators point downward for GBP/USD             . However, graphical analysis on all timeframes and most experts agree that the pair has already reached its local bottom and will be oscillating around a 1.4500 pivot point during the week. The main support is at 1.4450, resistance – 1.4600.

Roman Butko, NordFX
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