GBP/USD forecast for the week of September 24, 2012, Technical Analysis
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The GBP/USD pair did essentially nothing after bouncing around all week. We finished flat, and it looks like the 1.63 level is going to give the buyers a bit of a fight. The recent move higher has been very parabolic, and as such we are looking for some type of pullback in order to go long again. We see the 1.60 level as the first major support level that this pair sees below. We actually like buying this pair on a pullback to that level, or a breakout above the 1.63 level.
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Christopher is a part of the FXEmpire.com analysis team. He writes Forex and Commodities technical analyses on daily and weekly basis. Christopher writes his analyses in a professional and yet simple to understand manner. His analyses are available in both text and videos.
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