GBP/USD Forecast September 11, 2012, Technical Analysis

Get Forex buy/sell signals directly to your email and by SMS.
To learn more click here

The GBP/USD pair fell for much of the Monday session, but bounced in order to form a bit of a hammer that is focused on the 1.60 handle. This makes sense, as the level is a large round number, and the pair is so bullish lately.

We see absolutely nothing on this chart that would suggest selling is a viable strategy, and in fact would be buying a break above the Monday highs as it is a classic breakout and pullback type of move. The Bank of England is said to hold still as far as interest rates are concerned, and many people around the world expect the Federal Reserve to extend its quantitative easing until 2015, or even later. With this being said, this should continue to push his pair higher for the long term.

GBP/USD Forecast September 11, 2012, Technical Analysis

GBP/USD Forecast September 11, 2012, Technical Analysis

Want to read more articles like this one?
Enter your e-mail address and read FX Empire content directly from your inbox.
 
We value your privacy. Your e-mail address will not be shared.
About: FX Empire Analyst - Christopher Lewis

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.

  View all of FX Empire Analyst - Christopher Lewis's Articles    
Share Your Thoughts: Post a Comment


Your email address will not be published.