The GBP/USD pair fell during most of the session on Friday, but did bounce off of the uptrend line that is just below. With this, the market should find
The GBP/USD pair fell during most of the session on Friday, but did bounce off of the uptrend line that is just below. With this, the market should find buyers on a break above the top of the hammer, which would be a buying opportunity heading towards the 1.57 level. We believe that this market continues to consolidate in general, and then eventually find buyers in order to break out and above the 1.58 level which has been resistive in the past. We believe in buying dips going forward as the British pound continues to show resilience.
GBP/USD Forecast August 10, 2015, Technical Analysis
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
