Check out this week's Forex Pairs in Focus - Forecast
The GBP/USD has been all over the place during the week, as we are hanging around the 200-Week EMA. The 1.30 level above has been a significant resistant barrier, and therefore I think if we can break above there is likely that the British pound will continue to go higher. On the other hand, if we break down below the 1.2650 level, the British pound will roll off and start dropping. All things being equal, I suspect that this is a market that will probably consolidate over the next week or so.
85 level, the bottom is going to fall out.The NASDAQ 100 has rallied during the week, as it looks like it is trying to do everything you can to get to the 16,000 level. We continue to go through the earnings season, and it certainly looks as if it is going to remain very bullish. At this point, I think short-term pullbacks offer plenty of support, with the 15,250 level being a bit of a short-term floor in the market.
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