The GBP/USD pair initially dipped at the open but found enough support to continue to push against the 1.27 handle. If we can break above there, I think
The GBP/USD pair initially dipped at the open but found enough support to continue to push against the 1.27 handle. If we can break above there, I think the next area that were going to test of the 1.2850 level. That’s an area that I think should continue to be important as it used to be support, and it should now be resistance. An exhaustive candle at that area should be a nice selling opportunity as we continue to expect interest-rate hikes out of the Federal Reserve, while the British of course are not going to be raising rates anytime in the foreseeable future.
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.
