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Sideways move continues

Sideways move continues | 11 November 2013

11 November 2013, GBP/USD

Broadly the GBP/USD is in a sideways consolidation which may or may not be a double or triple top. It was rising within this consolidation but then it weakened suddenly and fell back down to 1.5960. There is a possibility that it could fall further down to 1.5900 now; alternatively it could also recover and begin rising back up to the 1.6115 highs. The short-term trend is unclear although as long as the 1.5900 neckline remains unbroken the pair is expected to break to the upside when it eventually breaks out of the sideways range.
Sideways move continues
Mark Satcher
Analyst of «FreshForex» company
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