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.
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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