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Pound/Dollar: Expected Return to LB

Hourly

On Monday the pound/dollar rose to 1.5287 due to euro sales in the euro/pound cross. Trader activeness on the American session was low due to the state holiday in the US and Canada. The growth continues today in Asia. At the moment, the pound/dollar is trading above 135 degrees, at around 1.5367. I didn’t bother re-doing my forecast. The target on it has been re-fulfilled. From the U3, I’m expecting a correction towards the LB.

Daily

The GBP/USD has broken from the support and is currently heading back to 1.5367. For now the price is trading just below 1.5436; we’re talking about a correction.

Weekly

The weekly candle closing above 1.5439 will cancel the 1.5110 target before the FOMC convenes.

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