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GBP/USD Forecast December 23, 2011, Technical Analysis

By:
Christopher Lewis
Updated: Jan 1, 2011, 00:00 UTC

GBP/USD rose and then fell again on Thursday as the 1.57 level held the market down again. The pair looks likely to stay in the 1.57 – 1.55 range for the

GBP/USD Forecast December 23, 2011, Technical Analysis

GBP/USD rose and then fell again on Thursday as the 1.57 level held the market down again. The pair looks likely to stay in the 1.57 – 1.55 range for the short-term as the levels simply cannot be broken. With the volume almost disappearing over the next few sessions, we are very unlikely to see a serious move upwards from here that would take massive buying. We are sellers if this pair can break below the 1.5635 level. Other than that – we have no real interest in trading this pair.

GBP/USD Forecast December 23, 2011, Technical Analysis
GBP/USD Forecast December 23, 2011, Technical Analysis

About the Author

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.

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