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GBP/USD Forecast: dominant bearish trend firm in place

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Dec 28, 2015.

  1. Sandra S.

    Sandra S. Forum Member

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    The GBP/USD holds ground above the 1.4900 level, but shows little aims to go higher in this ultra-thin Monday. The consolidative phase that began when the pair recovered from its multi-month low of 1.4804 extends into this week, although the bearish dominant trend remains well in place, with the pair developing within a daily descendant channel since mid September. Technically, the 4 hours chart shows that the price is holding above its 20 SMA, while the Momentum indicator has lost

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