The GBP/USD pair fell during the session on Thursday, crashing into the 1.55 level. However, there is enough support at this area that we feel the market
The GBP/USD pair fell during the session on Thursday, crashing into the 1.55 level. However, there is enough support at this area that we feel the market will more than likely bounce from here. However, keep in mind that there is the Nonfarm Payroll Numbers announcement during the session today, so volatility could be rather high. There is an uptrend line just below that should also keep this market afloat, so we are bullish in general. That being said, we do not think the market is going to break above the 1.57 level today though.
GBP/USD Forecast August 7, 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.
