The forecast that GBP/USD will be moving towards last February’s lows is starting to pan out. Last Wednesday, the pair sharply reached 1.4000 but, as expected, it quickly returned to the sideways channel in which it has been moving for the last three weeks.
Forecast for Upcoming Week
Summarizing the opinions of several dozen analysts from leading banks and broker companies and forecasts based on different methods of technical and graphical analysis, the following can be said:
The forecast for GBP/USD remains unchanged – moving towards last February’s lows. This is supported by 65% of the experts, 100% of the indicators and graphical analysis on D1. The remaining experts believe that the pair will continue to fluctuate in March’s range of 1.4050-1.4450.
Roman Butko, NordFX