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
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.
