GBP/USD: Sideways Range Continues To Unfold
Forex4you | Mar 30, 2015 06:35AM ET
The pound continues to oscillate within a sideways range. Unfortunately the Money Flow Index is not providing us with any clues as to which way the pair might break, but given the trend prior to the formation of the sideways move was bearish the probabilities favour a continuation lower afterwards.
A break below the 1.4633 lows would probably confirm a move down to a target at 1.4500.
Alternatively a move above the S1 Monthly Pivot at the spike highs at 1.5166 would probably confirm a move higher to a target at 1.5300.
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