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Pound/Dollar: Target – 1.5445

Hourly

In the first half of Thursday the pound/dollar dropped to 1.5420. After the release of American statistics and a fall in the euro/pound cross, the pound/dollar recovered to 1.5533. Taking into account that the IMF has put an end to its talks with Greece, the euro remains under pressure. The Aussie dollar and the Swiss franc are also down against the US dollar. The pound won’t be able to be the only one to make gains against the key pairs. This is precisely why I’m looking today at a double top. My Eurozone at close target is 1.5445. Let’s have a look at the Daily tab.

GBP/USD Hourly Graph

Daily

The sellers didn’t manage to cover Wednesday’s growth. The pound/dollar is trading close to the weekly maximum of 1.5552. If on the hourly my scenario is realized, most likely the pound will return to 1.5385. If not then we’re heading up to 1.5792. Now to the Weekly tab.

GBP/USD Daily Graph

Weekly

Here I’ve nothing to add for the meanwhile. The pound is strengthening against the weekly indicators.

GBP/USD Weekly Graph

Attention:

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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