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Pound/Dollar: Expected Fall from LB

Hourly

Yesterday I expected to see a rebound to 1.5110/15. The pound/dollar bounced to the LB at 1.5127. From this line on my forecast I’ve gone for a weakening of the pound to 1.5030. It could go even further down, but the economic calendar is empty, so I’ve limited it to 67 degrees.

Hourly Graph

Daily

The GBP has rebounded from the support (projection from 1.5229-1.5164-1.5106 minimums). Today the sellers are going to have a decisive day since the oscillator stochastic has flipped downside up without the rate falling. We could either see it flip into a correctional phase for a few days, or a renewal of the minimum at 1.5026.

Daily Graph

Weekly

There’s a mistake on the graph: the minimum should be 1.5026. I expect to see the pound at 1.4565 by the end of the year, but for now the closest target is 1.4900.

Weekly Graph

11 November, 08:06 (GMT+3)
Euro/Dollar: Hammer on the Daily

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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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