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GBP/USD Forecast August 25, 2017, Technical Analysis
Updated: Aug 25, 2017, 04:34 GMT+00:00
The British pound initially rallied on Thursday, reaching towards the 1.2850 level. We did not make it though, and we have rolled over cents. I believe
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The British pound initially rallied on Thursday, reaching towards the 1.2850 level. We did not make it though, and we have rolled over cents. I believe that the sellers will continue to enter this market, and if Janet Yellen is even remotely hawkish during her speech today, this will absolutely pummel the British pound. I still believe in selling short-term rallies, at least until we break above the 1.2850 level, and even then, I would be a bit skeptical. It certainly looks as if the sellers are in control, and I think that should continue to be the case.
GBP/USD Video 25.8.17
About the Author
Christopher LewisSenior Analyst
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.
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