Weekly Outlook GBPUSD

1 Nis 2019

As with its correlated pair, EURUSD, I am expecting some short-term upside (very limited) as it begins to range within the green area outlined on the chart. Long-term, I see this pair as continuing its downward move. It should reveal its upside weakness shortly, likely around the .382 fib level, then bounce a few more times on the lower boundaries of the range before breaking downward.