Main scenario:
The GBP/USD is trading along a sideways trend.
An uptrend will start as soon as the pair rises above resistance level 1.6755, which will be followed by moving up to resistance level 1.6880.
Alternative scenario:
A downtrend will start as soon as the pair drops below support level 1.6660, which will be followed by moving down to support level 1.6575.
Previous forecast:
Weekly Forecast: 18 - 22 August
Main scenario:
The pair is trading along a downtrend.
The downtrend may be expected to continue in case the market drops below support level 1.6660, which will be followed by reaching support level 1.6430.
Alternative scenario:
An uptrend will start as soon as the pair rises above resistance level 1.6755, which will be followed by moving up to resistance level 1.6880 and then to 1.7040.
Previous forecast:
Monthly Forecast: August - September (updated 08/04/14)
Main scenario:
The pair is trading along a downtrend.
The downtrend may be expected to continue while pair is trading below resistance level 1.7040, which will be followed by reaching 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.
Alternative scenario:
An uptrend will start as soon as the pair rises above resistance level 1.7200, which will be followed by moving up to resistance level 1.7500.
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.