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Pound/Dollar: Expected Further Fall

Hourly

After a fall to 1.5124, the pound/dollar renewed to 1.5189. From here the rate again weakened to 1.5108. News from the closed Fed meeting about discount rates still hasn’t come out.

I’ll take a risk in saying that the GBPUSD will fall to the 90th degree at 1.5065 today (the support on the daily goes through 1.5054). Yesterday’s pattern was weak for growth. A fall could be cancelled out by Mr. Carney. He is set to speak at 12:00 EET.

Daily

The indicators are showing a fall for the GBP/USD and so I will continue to say that the UK pound is set to weaken to 1.5065/75.

Weekly

At the beginning Friday’s flipped candle has started to work off. If the GBP/USD’s fall hastens and passes 1.5065/75, the next target will become 1.5028. The technical side is looking as good as it can be, but Carney could change things and cut short the downward tendency.

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