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GBP/USD Forecast September 22, 2016, Technical Analysis

By:
Christopher Lewis
Published: Sep 22, 2016, 04:45 UTC

The GBP/USD pair went back and forth during the course of the session on Wednesday, as we continue to see weakness in the British pound. The 1.2850 level

GBP/USD daily chart, September 22, 2016

The GBP/USD pair went back and forth during the course of the session on Wednesday, as we continue to see weakness in the British pound. The 1.2850 level is the target that I have for the short-term, so any rally at this point in time should be a selling opportunity on signs of exhaustion. I also believe that a break down below the bottom of the range for the session on Wednesday would be a nice selling opportunity as well. Ultimately, this is a market that continues to punish the British pound for the vote to leave the European Union.

About the Author

Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.

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