Bidding for the currency pair GBP /USD in the past few months pass without a clearly defined long-term trend and restricted passage in the form of Fibonacci levels 1.5688 and 1.7049.

long enough uncertainty points to increase the likelihood of an early determination of subsequent at least medium-term trend and the key level at this time for quotations is psychologically important mark of 1.6, about which the couple is now and is the middle line Bollinzhera bands (Figure . 1).

Fig. 1 - Full-time dynamics of the currency pair GBP /USD

Source: Reuters

Other indicators we have discussed in general signal short-term downward movement with the possibility of correcting up (Fig. 2). Thus, the line is above the DX-DX, while the line itself ADX said the strengthening trend.

indicator slope of the linear regression, located just below, is below zero, but in the last session stopped at a certain level and stop the decline. Relative Strength Index RSI is not so far oversold zone, suggesting the possibility of correction up.

Lines Stochastic Oscillator came close to the oversold zone, however, barely touched her, jumped up, pointing to the potential for further reduction couples.

Fig. 2 - Technical indicators for the pair GBP /USD

Source: Reuters

Thus, we believe that the main reference point for further movement couples will mark 1.6, the closure of one or two trading sessions, above which, as well as overcoming the midline bands Bollinzhera will talk about the possibility of correction up and achieve the level of Fibonacci 1.6208.

In the event that downward movement continues, and the closure of one or two consecutive sessions take place below 1.6, then we can talk about the possibility of movement of quotations to the level of Fibonacci 1.5688. At the moment it seems more likely continuation of the downward movement.

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