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Pound/Dollar: Expected Return to 1.5125

Hourly

On the whole I was pretty happy with yesterday’s GBP/USD price movements. The rate bounced to 90 degrees, renewed the maximum and returned to the LB due to weak UK stats. Yesterday saw the key pairs strengthen against the dollar, so I expect the GBP to rise to the U1 today.

Hourly Graph

Daily

The GBP/USD lifted to 1.5125, but the close for the day was below 1.51. A break wasn’t cancelled, but the indicators don’t surprise me. Today the buyers will probably return the rate to 1.5125 since yesterday saw the dollar weaken against many currencies.

Daily Graph

Weekly

No comment until Friday.

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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