GBP/USD weekly chart, October 17, 2016

GBP/USD forecast for the week of October 17, 2016, Technical Analysis

The GBP/USD pair fell during the course of the week, reaching towards the 1.20 level below. This is an area that I think will be rather supportive, but keep in mind that eventually we will have a bit of a bounce more than likely, but I think it is also going to be very volatile. Given enough time, I think that we do break down and go even lower. The British pound is still being punished for the exit vote, but having said that it’s not always going to be easy.

GBP/USD Weekly Fundamental Forecast