GBP/USD Weekly Forecast – 28 September – 2 October

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Friday, Sep 25 2015

Sterling was pushed lower in the course of the last week, going even below 1.52 handle which indicates general weakness in the pair. As for next week we would pay attention to UK PMI data and US NFP figures. We believe that any type of supportive candles around 1.5050 handle and 1.50 area in extension would offer short-term buying opportunity, while resistive candles above 1.5350 level would be short-term selling signal. In long-

term trends we believe that pair could go even lower all the way to 1.50 handle given enough time. With that being the case we would be interested only in selling this pair. Since we have broken below support at 1.55 handle and uptrend line so buying is not an option at the moment. If we see break below 1.50 handle which should offer significant amount of resistance we believe that pair could go much lower.

More in this category: « AUD/USD Weekly Forecast – 28 September – 2 October EUR/USD Weekly Forecast – 28 September – 2 October »

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