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GBP/USD Forecast November 25, 2014
 
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Fundamental Analysis

GBP/USD found temporary support above $1.5660-area ahead of BoE governor Carney speech today and Wednesday GDP data in U.K.
The main trend remains bearish as divergence between central banks will favor the greenback over the sterling.
The Fed is under pressure to hike interest rates while the latest BoE dovish comments excluded any action.

Technical Analysis



As we have mentioned on our yesterday analysis, GBP/USD prices advance have faced a resistance from the upper line of the symmetrical triangle and provided a good opportunity for day trader to "short" the pair at $1.5712.
A confirmed break down of the triangle will accelerate the decline and Prices could reach $1.5500-area as Potential target of the continuation pattern.
Only a break above the upper line will negate the settings of the triangle.


Support 2 Support 1Current PricesResistance 1Resistance 2
1.56351.55181.56831.57041.5787

   

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