The GBP/USD pair bounced off of the trend line that has been so reliable recently, and as a result it shows that we are still interested in going long.
The GBP/USD pair bounced off of the trend line that has been so reliable recently, and as a result it shows that we are still interested in going long. The market should head towards the 1.58 level given enough time, and we look at short-term pullbacks as buying opportunities. Once we get above the 1.58 level, we feel that this market will then head towards the 1.60 level given enough time. We believe that as long as we can stay above the uptrend line, we are essentially going to be “long only.”
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.
