Pound-Dollar On a Decline, Eyeing 1.5207

The pound can't rise due to the fall of the euro. On the forecast I've gone for a fall of the GBPUSD to the trend line at 1.5207.

Alpari: Market reviews

Pound/Dollar: 1.5207 Target

Hourly
The UK pound on Thursday contrived to return to 1.55. From here the pound followed the euro against the dollar by falling to 1.5368. The lower limit of the channel was broken. A fall to the 135th degree to 1.5320 is expected. If we take the euro’s fall against the dollar into account, the pound’s closest target is 1.5207.

Daily
The pound can’t rise due to the fall of the euro. On the forecast I’ve gone for a fall of the GBPUSD to the trend line at 1.5207.

Weekly
Changes for the pound aren’t noticeable, but I’m expecting a return of the rate to the LB.

Vladislav Antonov, Alpari Analyst