JuliaFX

Forex Forecast for 8-12 February 2016

FX:GBPUSD   British Pound/U.S. Dollar
First, a review of last week’s forecast:
Federal Reserve official W. Dudley’s doubtful remarks about the Fed raising interest rates in 2016 helped the 50% of the experts who, backed by graphical analysis on D1, reckoned that GBP/USD             would continue to move up to 1.4630. The pair reached this level on Wednesday and, as expected, went down, finishing the week around 1.4500.

Forecast for Upcoming Week
Summing up 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 suggested:
The experts' opinions split almost 50/50 in regards to GBP/USD             . According to the indicators and graphical analysis on H4, the pair will be moving in a horizontal 1.4400-1.4545 channel in the near future. In the longer term, 30% of the analysts and graphical analysis on D1 predict a rise to resistance at 1.4900. However, 60% of the experts don’t agree with this, insisting that the pair should fall and get to 1.4220 by the end of February.

Roman Butko, NordFX
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