The GBP/USD pair was predicted to first hit the bottom around 1.5250 and then to spike up at least to resistance at 1.5450, which took place. Although some adjustments were made by inertia – in its fall, GBP/USD made it to 1.5200 but then quickly returned to the indicated of 1.5250. The maximum turned out to be slightly higher at 1.5500 while 1.5450 became the point the pair returned to by the end of the week.
Forecast for the coming week. Summarizing the views of several dozen analysts from world leading banks and broker companies and forecasts based on different methods of technical and graphical analysis, the following can be said:
Most experts, graphical analysis and indicators on H4 and D1 believe that GBP/USD will be moving in a 1.5420-1.5500 range for some time. Further forecasts diverge: 23% of the analysts, fully supported by the indicators, insist the pair will rise to around 1.5570-1.5600. Graphical analysis differs – the pair should go down to support at 1.5350.
Roman Butko, NordFX