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Pound/Dollar: Expected Consolidation at 1.53 Till Evening

Hourly

UK GDP for Q3 data weakened the GBP’s position across all pairs. Despite weak stats from the US, the pound/dollar renewed a European minimum. As I expected, the pound fell below 1.5305.

On Wednesday at 20:00 EET, the US Fed will let us know its interest rate decision. Due to this I’ve only made a forecast until then. There’s no sense in trying to guess what they will write in the press release. I expect the pound to sit in a sideways until the American session.

Hourly Graph

Daily

The GBP/USD is heading for the trend line at 1.5207.

Daily Graph

Weekly

No comments for today.

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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