Every week, we are publishing the Experts Forecast Currencies Poll. A pool of selected traders and analysts gives us their targets for the major currencies for the week, month and quarter to come. They also indicate the whole trend in these periods.
The report includes a visual table for each pair, as well as the comments that the experts might have added to their analysis.
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| GBPUSD | 1 Week | 1 Month | 1 Quarter | 1 Week | 1 Month | 1 Quarter | ||
|---|---|---|---|---|---|---|---|---|
| Levels | Trend | |||||||
| ©FXstreet.com | Fri, Aug 31 2012, 17:00 GMT | |||||||
| A. Narczewski | 1.5950 | 1.5600 | 1.5400 | Bullish | Bearish | Bearish | ||
| ANZ FX Strategy Team | - | 1.6100 | 1.6300 | Sideways | Bullish | Bullish | ||
| BoA FX, Rates and Commodities Team | - | 1.5500 | 1.5300 | - | Bearish | Bearish | ||
| Claudiu Cazacu | 1.5845 | 1.5970 | 1.5660 | Bearish | Bullish | Bearish | ||
| Danske Research Team | - | 1.5700 | - | Sideways | Bearish | Sideways | ||
| GFM Research Private Limited | 1.5720 | 1.5950 | 1.5950 | Bearish | Sideways | Sideways | ||
| ICN.com analysis team | 1.5850 | 1.5510 | 1.5510 | Bearish | Bearish | Bearish | ||
| Ilian Yotov | 1.6000 | 1.5750 | 1.5500 | Bullish | Bearish | Bearish | ||
| Joshua Martinez | 1.5800 | 1.6200 | 1.5800 | Bearish | Bullish | Sideways | ||
| Malik Khan | 1.6050 | 1.6000 | 1.5775 | Bullish | Bullish | Sideways | ||
| Mauricio Carrillo | 1.6000 | 1.6000 | 1.5700 | Bullish | Bullish | Bearish | ||
| Rabobank Financial Markets Research Team | - | 1.5500 | 1.5700 | Sideways | Bearish | Bearish | ||
| RBS Team | - | 1.5600 | 1.5400 | Sideways | Bearish | Bearish | ||
| Ross Yamashita | 1.5900 | 1.5500 | 1.5000 | Sideways | Bearish | Bearish | ||
| Scotiabank FX Strategy Team | - | 1.5500 | 1.5900 | - | Bearish | Sideways | ||
| TD Securities Research Team | - | 1.5400 | 1.5100 | Sideways | Bearish | Bearish | ||
| Valeria Bednarik | 1.6060 | 1.6300 | 1.5770 | Bullish | Bullish | Sideways | ||
| Westpac Institutional Bank Team | - | 1.6000 | - | - | Bullish | - | ||
| Yohay Elam | 1.5700 | 1.5600 | 1.5500 | Bearish | Bearish | Bearish | ||
| Average | 1.5898 | 1.5773 | 1.5604 | Sideways | Bearish | Bearish | ||
Finally managing to break above the top of its range between $1.54 and $1.58, the GBP/USD pair looks positioned for a test of the $1.60 area.
The GBP/USD daily time frame is slowly moving bullish toward the top of the consolidation. Once it hits the top, I'm expecting the bears to bring the market back down to the support level.
The biggest issue of debt crisis still looms over Europe and any negative new from Europe is likely to stop GBP/USD’s rise in its tracks, That why we remain in the sideways or negative territory in the GBP/USD pair in the next coming months.
The pound has some room to weaken
Risk Disclosure
This forecast has just an informative meaning and cannot be treated as the guide to action, signal, recommendation or an offer to carry out certain trading operation. The experts of this poll expresses personal opinions and will not assume any responsibility whatsoever for the actions of the reader.We always aim for maximum accuracy, and FXstreet.com cannot be held responsible for inaccurate information or typos.
A break above 1.6000 psychological level with a daily closing may change the short term outlook.