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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.

Daily

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

Weekly

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

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