GBP/USD Weekly Outlook:
Speculative price range for GBP/USD is 1.24250 to 1.26560 :
Because the holidays are now approaching and this week will see extremely light volume after this Wednesday going into the weekend, GBP/USD traders will need to take precautions. Because of the price velocity seen late this past week, it is possible a reaction will occur on Monday and Tuesday. The low last Friday near the 1.24950 ratio was a sign additional pressure is a possibility in the days ahead.
Betting against the bearish trend in the GBP/USD in the coming days may prove to be expensive. If the GBP/USD remains under the 1.26000 level in the near-term this could be a sign that financial institutions may remain quite nervous about their outlooks and are unwilling to bet on upside suddenly emerging. Risk management in the GBP/USD and all of Forex this coming week will be important and there is a chance volatility will remain evident early.
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Rehana William
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