GBP/USD rose on Tuesday as traders sold off the Dollar overall. The move may have been somewhat exaggerated in low volume though. Also, the 1.57 level
GBP/USD rose on Tuesday as traders sold off the Dollar overall. The move may have been somewhat exaggerated in low volume though. Also, the 1.57 level held again, and this suggests that we are simply going to continue to consolidate in the 1.55 to 1.57 range for the time being. This makes sense as the markets are usually quiet in this part of the year with the lack of interest. The pair is towards the top of the range, so selling isn’t a bad idea for the short term.
GBP/USD Forecast December 28, 2011, 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.
