GBP/USD forecast - page 90

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SHORT GBP AND SELL YOUR MOM !!!!
 
upside correction expected
 
It bounced off from 1.3915, but the move to the downside may still continue.
 
The pair is testing 1.3915 - 1.3920 again, it may form a double bottom at that support and bounce off to the upside.
 
The pound lost positions against the dollar on Wednesday. Thus the British currency completely deleted the profit recorded in the previous session and the pair tested support at 1.3917. Short-term expectations remain in favor of the dollar. Trade was open at 1.3975, and the final was 1.3927. The trend was of bearish character, and bottom of the day was hit at 1.3923.
 
GBP/USD
Key levels to watch for:
Support: 1.3917; 1.3888;
Resistance: 1.4096; 1.4200;
 
Pound / dollar resumed the downward momentum yesterday, reaching a bottom at 1.3922. Signals are bearish in the near future, especially if the price can make a clear break below 1.3917 for testing 1.3850 or lower as part of the bearish correction after the false break above 1.4275. The first resistance is at 1.4000, whose breakthrough may take the price to a neutral trading area, and the direction will become obscure. On downside, a clear break and daily closing below 1.3850 will clear the way to 1.3710 and the trendline support line. This zone is a good place for long positions with narrow stops because a clear break below it will cancel the main bullish views.
 
The pair is still consolidating above 1.3900, the question is whether there will be a breakout eventually.
 
For second time the pair failed to regain 1.40 level. The outlook remains neutral to bearish. A breakbelow 1.3985 would drag the pair towards 1.3960.
 
The move to the downside contunues, GBP/USD has reached 1.3750 and it may continue falling towards 1.3700.
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