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GBP/USD forecast - page 86

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The consolidation is getting tighter and tighter, it will probably end after the fundamentals later this week.
GBP/USD finally broke out below 1.4000 and it may continue falling towards 1.3900.
Yesterday’s strong drop in Cable has been in tandem with rising volume and shrinking open interest, although by irrelevant levels. The inconclusive activity in both open interest and volume allows spot to extend the consolidation, with gains clearly capped by the 1.4100 neighbourhood for the time being.
GBP/USD
Key levels to watch for:
Support: 1.3814 1.3890 1.3946
Resistance: 1.4079 1.4155 1.4212
The US dollar advanced a bit because of the NFPs but i think it will be back to normal level soon.
The pair bounced off from 1.3965 and is now testing the resistance at 1.4100 again. If it breaks out above it GBP/USD will likely reach 1.4150.
The outlook for GBP/USD is positive as the pair eyes a move to 1.42 and hawkish BoE comments would be the perfect catalyst for a rally.

GBP/USD found resistance at 1.41 and since then is consolidating in a bear flag. 1.4065 is protecting the downside which if broken, the pair will face the support area 1.4030–1.4025.

The pair reached 1.4165 today and it may continue moving to the upside towards 1.4200 this week.
Victoria Jensen:
The pair reached 1.4165 today and it may continue moving to the upside towards 1.4200 this week.
What do you think will move down from 1.4200?
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