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Pound/Dollar: Expected Update of Friday’s Minimum

Hourly

After a fall to 1.5305, the pound/dollar rebounded to the LB. My yesterday’s expectations rang true. At 12:30 EET, preliminary UK GDP data for Q3 will come out. It’s expected to be down QoQ and unchanged YoY. After yesterday’s correction, the pound is readying itself for a fall. My money is on GDP coming out worse than expected and the GBP/USD falling below 1.53.

Hourly Graph

Daily

I’m leaving this as was and am waiting for a fall of the GBP/USD to the trend line at 1.5207.

Daily Graph

Weekly

The weekly indicators are in the neutral zone. The decisive factor belongs to the daily.

Weekly Graph

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Forecasts which are made in the review constitute the personal view of the author. Commentaries made do not constitute trade recommendations or guidance for working on financial markets. Alpari bears no responsibility whatsoever for any possible losses (or other forms of damage), whether direct or indirect, which may occur in case of using material published in the review.

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