FXEMPIRE
All
Ad
Advertisement
Advertisement
Christopher Lewis
Add to Bookmarks
gbpusd

The GBP/USD pair tried to break through the 1.63 handle on Wednesday, but with the beat back by the sellers. The decisive turnaround was quite impressive, and formed a nasty looking shooting star. Because of this, we would not be long of this pair at the moment, and would simply wait for a pullback in order to start buying again.

We think the 1.61 handle would be an ideal place to see supportive action and we would not hesitate to go long at that point. However, there is always the possibility that we break the top of the shooting star from the range on Wednesday, and this of course is a massively bullish sign as well. We are not interested in selling as we think any trade south from here is going to be short term at best.

Advertisement
Know where GBP/USD is headed? Take advantage now with 

Trading Derivatives carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved, and seek independent advice if necessary. A Product Disclosure Statement (PDS) can be obtained either from this website or on request from our offices and should be considered before entering into a transaction with us. Raw Spread accounts offer spreads from 0.0 pips with a commission charge of USD $3.50 per 100k traded. Standard account offer spreads from 1 pips with no additional commission charges. Spreads on CFD indices start at 0.4 points. The information on this site is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

 

GBP/USD Forecast December 20, 2012, Technical Analysis
Advertisement
Don't miss a thing!
Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Trade With A Regulated Broker