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Pound/Dollar: Break From 1.5242

Hourly

The pound updated the minimum at the American session, but didn’t make it to the level we wanted. Due to this there was a recoil that was bigger than expected. The trend line was broken. The pound/dollar lifted to the LB after weak US stats came out. If the pound will even lift any higher, I reckon it’ll be via a rebound to 1.5275. This is why on my forecast I’ve indicated a fall for the GBPUSD to the trend line at 1.5275.

Daily

On the daily I’m keeping the target at 1.5207.

Weekly

I’m awaiting a break in 1.52 with a 1.5080 target.

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