The British pound fell during the day on Friday, breaking below the 1.30 level at one point. I still believe that we will probably continue to go lower,
The British pound fell during the day on Friday, breaking below the 1.30 level at one point. I still believe that we will probably continue to go lower, perhaps reaching towards the 1.2850 level below. The negative candle that we have formed for the session on Friday tells me that there is still plenty of negative pressure in this marketplace, as we continue to punish the British pound for the exit vote out of the European Union. I believe that rallies and show signs of exhaustion are also selling opportunities as well.
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.
