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
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.
