GBP/USD forecast

   The pair didn't manage to bounce off the support at 1.4240, which was stated in the previous forecast. It was supposed that the "head and shoulders" figure would be formed from there and the pair would grow up to the level 1.4475. Markets were opened by a gap On Monday and a very strong descending impulse evolved that contributed to breaking of the "K" trend line. Now the nearest support is at 1.3830; the target of the pair's descending motion is level 1.3880. It's not time yet to consider variants of ascending motion's development. First, the pair needs to reach to the support, then break the descending trend and also the "K" trend line. If the pair manages to consolidate below the support at 1.3830, level 1.3600 will be reached.
   Pound is rapidly dropping against euro in EUR/GBP cross-pair, which is making additional pressure to GBP/USD.

 

 

  The pair exited from descending trends and went up rapidly, now its target is level 0.9110. Supports: 0.8955 и 0.8910. If the pair manages to go up above 0.9110, then level 0.9261 will be reached making additional pressure on pound's dropping in GBP/USD pair