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GBP/USD forecast for the week of August 15, 2016, Technical Analysis

By:
Christopher Lewis
Published: Aug 13, 2016, 05:53 UTC

The GBP/USD pair fell during the course of the week, as we continue to chip away at the barrier below. I believe that the 1.28 level is the bottom of the

GBP/USD weekly chart, August 15, 2016

The GBP/USD pair fell during the course of the week, as we continue to chip away at the barrier below. I believe that the 1.28 level is the bottom of the support and should continue to push this market to the upside until we break down below it. Once we do, I feel that we will then reach down to the 1.25 level. Rallies of this point in time will be selling opportunities, and quite frankly I can’t even come up with that scenario in which I want to buy this pair.

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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