GBP/USD: Moving Sideways; Bearish Longer-Term Bias

 | Mar 24, 2015 06:51AM ET

GBP/USD is in an indeterminate sideways trend. Given the longer-term trend is down the probabilities favour a resumption of that down-trend.


Ideally I would want to see a breakdown out of the current sideways consolidation for confirmation of more downside, so ideally I break below the lows at 1.4633 with a target at the psychologically significant 1.4500 round-number.