The GBP/USD pair rose during the session after initially falling on Friday in order to show the 1.61 level as being supportive. We believe that the market
The GBP/USD pair rose during the session after initially falling on Friday in order to show the 1.61 level as being supportive. We believe that the market is essentially a bull market, and as such we are looking for supportive candles in order to buy. A break above the 1.63 level would be massively bullish and its implications, and have us not only buying this market, but willing to hold onto it until we reach the 1.70 level. As for selling, we have no interest in doing so right now as we see far too many support levels such as the 1.61, 1.60, and the 1.58 handles.
GBP/USD Forecast December 31, 2012, 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.
