GBP/USD Weekly Forecast, 20 - 24 October

Main situation:
The pair is trading along an sideways trend.
An uptrend will start as soon, as the pair rises above resistance level 1.6250, which will be followed by moving up to resistance level 1.6400 and then to 1.6600.

Alternative set-up:
An downtrend will start as soon, as the pair drops below support level 1.6040, which will be followed by moving down to support level 1.5725.