GBP/USD forecast - page 66
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GBP/USD bounced off from 1.3300 but whether it will continue moving to the upside depends on the fundamentals.
The pair is still bullish and it will probably soon test the resistance at 1.3465 once again. A breakout could lead to a further move to the upside towards 1.3500 - 1.3520.
GBP/USD bounced off from 1.3450 and is now back at the support at 1.3300. The question now is whether it will manage to break out below that level too.
I think that before the New Year, GBPUSD will keep the downtrend, GBPUSD will follow EURUSD down. December 14, 2017 was the decision on the interest rate of GBP, Official Bank Rate remained the same. Therefore, there is no reason to exit the previous downward trend. December 13, 2017 was the decision on the interest rate of USD. USD rate increased by 0.25%. While this has had a weak effect on the behavior of EURUSD. The EURUSD trend is still downward. Before the New Year, GBPUSD will follow EURUSD down.
The pair has been difficult to trace lately.
Disappointment over Brexit negotiations' progress and now things will require the approval of the UK Parliament are bringing Pound down. Further decline might be expected.
GBP/USD bounced off from 1.3300 and is currently testing the resistance at 1.3415. A breakout above that level could lead to a further move to the upside towards 1.3500.
The pair is consolidating sideways because of the holidays, it may rally towards 1.3420 at best.
GBP/USD reached weekly high at 1.34 on Carney’s testimory. Anyway the pair remains in tiny range and I do not expect a move above 1.3450.
It is currently testing the resistance at 1.3400 and a breakout could lead to a move to the upside towards 1.3500 but more volatility during the holidays is unlikely.