FUNDAMENTAL BEAM
GBP/USD made the most of low liquidity in holiday markets last week, gaining about 150 points. The pair closed at 1.6476. This week’s highlights are Manufacturing and Construction PMIs. Here is an outlook for the main events moving the pound, and an updated technical analysis for GBP/USD.
The pound managed to post sharp gains last week despite strong US numbers. Unemployment claims fell sharply and New Home Sales beat the estimate, but this wasn’t enough to keep the dollar from taking a tumble.
TECHNICAL BEAM
Beautiful analysis for this pair reveals a shocking unexpected target as generally speculated by professional traders and trading geeks alike. After careful and detailed price analysis; Elliot wave as well as Fibonacci sequence numbers reveals this pair is moving towards completing a wave 3 OR III leg with price targets of 1.6818 and 1.7213 respectively.
The pair is expected to continue roofing the chart midst excellent data released from the States.
NOTE: Price
predictions produced by FibonacciPrice&PatternTrader may be
affected by unforeseen events like hurricane, earth quake, flood and
other natural disasters consequently changing price patterns already
predicted. Hence we advice strict adherence to money management
techniques.
HAPPY TRADING
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