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GBP/USD Forecast August 3, 2015, Technical Analysis

By:
Christopher Lewis
Updated: Aug 1, 2015, 05:16 UTC

The GBP/USD pair went back and forth during the course of the session on Friday, and as a result we should continue to have plenty of volatility. That

GBP/USD Forecast August 3, 2015, Technical Analysis

The GBP/USD pair went back and forth during the course of the session on Friday, and as a result we should continue to have plenty of volatility. That being the case, the market looks as if the 1.55 level below should be supportive, just as the uptrend line below should continue to be supportive as well, as the market should eventually break out to the 1.58 level above. With that, pullbacks are opportunities to go long, but in the meantime it appears that the market will stay in this fairly tight range.

 

GBP/USD Forecast August 3, 2015, Technical Analysis
GBP/USD Forecast August 3, 2015, Technical Analysis

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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