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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.

Daily

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

Weekly

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