GBP/USD Forecast September 13, 2012, Technical Analysis

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The GBP/USD pair rose during the session on Wednesday as the rally continued. The 1.61 level offered resistance though, and we have formed a bit of a shooting star. We don’t think that any fall from this area will be more than a simple buying opportunity, and we also believe that the “floor” in this marketplace right now is 1.60 handle.

The Bank of England is nowhere near easing right now, and the Federal Reserve could possibly do so later today. Because of this, this should put a bid in this pair going for some time now. We think the 1.63 is a reasonable target in the intermediate term.

GBP/USD Forecast September 13, 2012, Technical Analysis

GBP/USD Forecast September 13, 2012, Technical Analysis

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About: FX Empire Analyst - Christopher Lewis

Christopher is a part of the 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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GBP/USD will give a spark to down 1.5300 ALLAH PAK keh karam se :]