The GBP/USD pair went back and forth during the course of the day on Tuesday, essentially settling nothing. With that being the case, the markets look
The GBP/USD pair went back and forth during the course of the day on Tuesday, essentially settling nothing. With that being the case, the markets look like they are going to continue to consolidate overall, with the 1.55 level being the bottom, and the 1.57 level above being the top. Ultimately, this market should have plenty of buying pressure underneath to push it higher, and with the Monetary Policy Committee Statement coming out during the session today that could be the catalyst to move the market higher. Regardless, we think the pullbacks offer buying opportunities as long as we can stay above the uptrend line.
GBP/USD Forecast August 5, 2015, Technical Analysis
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.
