The GBP/USD pair rallied at the beginning of the session on Thursday, but turned around to form a shooting star. If we break down below here, I think that
The GBP/USD pair rallied at the beginning of the session on Thursday, but turned around to form a shooting star. If we break down below here, I think that the market will simply continue the overall consolidation that we’ve seen recently. Having said that, today is the employment announcement coming out of the United States and that of course can throw a lot of volatility into the market. I still believe that longer-term the British pound will continue to grind lower against the us dollar, but clearly right now we are bit exhausted by the massive selloff that we had seen previously due to the exit
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.
