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GBPUSD : More Weakness Could Follow

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Oct 26, 2015.

  1. Sandra S.

    Sandra S. Forum Member

    Sep 1, 2015
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    Pound turned down with the EURUSD at the end of the week, while USD index has been trading higher. So if strong USD will remain in the cards as we expect, then pound will fall as well. In fact, rally from 1.5100 was made in three waves as shown on the updated chart, so we expect more weakness in coming days, but we still need broken channel support and push beneath 1.5200 bearish level. Only then we will look straight down to 1.5100 and even consider new opportunities after wave 4. GBPUSD, 4H

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