All of March GBP/USD performed large-scale fluctuations, which perplexed many analysts. Last week, the pair acted in a similar way – first, it rose by 340 points and then dropped by 290 points.
Summarizing the views of several dozen analysts from world leading banks and companies as well as forecasts based on different methods of technical and graphical analysis, the following can be suggested:
The indicators and graphical analysis predict a fall for GBP/USD . However, only 40% of the experts agree with this while the rest of them are on the other side of the fence. Nonetheless, all of them believe that the amplitude of the pair's fluctuations will remain within the boundaries of past three weeks. In the longer term, and more than half of the experts still expect the pair to fall to last February’s lows around 1.3850.
Roman Butko, NordFX