GBP/USD forecast - page 75

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we have a correction


 

The pair bounced off from 1.4345 and the retracement may continue at least to 1.4050.

 

Despite Brexit and all the speculations, the pound is surprisingly stable.

 
The pair reached the support at 1.4050 and it is quite bearish. The next target is likely around 1.4000.
 
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On weekly chart, currently GBPUSD stuck in between 1.40000 and 1.43115 which was last week resistance. 

Bullish sentiment still persist in this week. 

*In this chart Ichimoku System was used with default setting.


 
GBP/USD fell to 1.3980 before it bounced off from that level and formed a hammer candlestick above it on the four-hour time-frame. There will likely be a further move to the upside towards 1.4200
 

GBP/USD bottomed today at 1.3979, but rebounded and currently is hovering around 1.4100. The upside is capped by the 20-day SMA and indicators has lost momentum. The pair will consolidate before trying to test the first resistance at 1.4150.

 
GBP/USD is testing the resistance at 1.4230, a breakout above that level will likely lead to a further move to the upside towards 1.4300.
 
The British pound recorded a positive session against the US dollar on Wednesday. The currency pair opened at 1.4144 and ended 45 pips higher. The chart continued to grow above the moving averages, while the relative strength index remained neutral. For additional pound gains, a breakthrough on the next resistance is needed.
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