The forecast for GBP/USD provided by graphical analysis was the most precise – at the beginning of the week, the pair was supposed to be oscillating in the range from 1.4150 to 1.4250, then rise and reach 1.4375. All this happened for the most part – until Thursday, the pair moved in a 1.4132-1.4275 channel, then went up and finished the week around 1.4380.
Forecast for This Week
Summing up the views of several dozen analysts from leading banks and broker companies as well as the forecasts based on different methods of technical and graphical analysis, the following can be said:
The experts are unanimous about GBP/USD – 75% of them, supported by the indicators, believe that the pair should reach resistance at 1.4500. Graphical analysis elaborates that the pair will briefly stay at this level and, on breaking support at 1.4370, will first go down to 1.4250-1.4370 for some time and then drop more – to support at 1.4120. This scenario is backed by 65% of the analysts.
Roman Butko, NordFX