Main scenario:
The GBP/USD trading along a sideways trend.
An uptrend will start from support level 1.7040, which will be followed by moving up to resistance level 1.7165.
Alternative scenario:
An downtrend will start as soon as the pair drops below support level 1.7040, which will be followed by moving down to support level 1.6980.
Previous forecast:
Weekly Forecast: 21 - 25 July
Main scenario:
The pair is trading along a sideways trend.
The local uptrend may be expected to continue in case the market rises above resistance level 1.7040, which will be followed by reaching resistance level 1.7200.
Alternative scenario:
A downtrend will start as soon as the pair drops below support level 1.7040, which will be followed by moving down to support level 1.6870.
Previous forecast:
Monthly forecast, July - August (updated 07/07/14)
Main scenario:
The pair is trading along an uptrend.
The uptrend may be expected to continue in case the market rises above resistance level 1.7200, which will be followed by reaching resistance level 1.7500.
Alternative scenario:
A downtrend will start as soon as the pair drops below support level 1.7040, which will be followed by moving down to support level 1.6720 and if it keeps on moving down below that level, we may expect the pair to reach support level 1.6320.
Previous forecast:
Long-Term Forecast: May - August
Main scenario:
The pair is trading along an uptrend.
An downtrend has already started from resistace level 1.7040, which will be followed by moving down to support level 1.6250 and then to 1.5500 - 1.5200.
Alternative scenario:
An uptrend will start as soon as the pair rises above resistance level 1.7230, which will be followed by moving up to resistance level 1.7800 and 1.9200.
