GBP/USD Forecast August 23, 2012, Technical Analysis

By FX Empire Analyst - Christopher Lewis
Font Size
Get Forex buy/sell signals directly to your email and by SMS.
To learn more click here

The GBP/USD pair had an extremely bullish session today as the 1.58 level finally gave way. We have now broken down, and should see much higher prices. In fact, we are aiming for the 1.63 level and continue to hold onto this trade until that level gets hit or some kind of drastic change in market sentiment.

If you are a more conservative trader, you could wait for a bit of a pullback, but it seems like that may not happen. This was an extremely explosive move, and as the market has been held below the 1.58 level so vehemently over the last several months, this could have real legs. We only buying this pair now, we do not sell it under any circumstances.

GBP/USD Forecast August 23, 2012, Technical Analysis

GBP/USD Forecast August 23, 2012, Technical Analysis


Want to read more articles like this one?

Get the latest fundamental analysis, technical analyses and the most up-to-date news catered to your interests, everyday.

* Please enter a valid email

Activation link was sent

An activation link has been sent to your E-mail.
You will start getting emails only after activating your account.

Find a Broker
Continue to FX Empire Network