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GBP/USD Forecast for the week of December 10, 2012, Technical Analysis

By:
Christopher Lewis
Updated: Aug 21, 2015, 00:00 UTC

The GBP/USD pair rose during the previous week, but fell in the end in order to form a shooting star. This shooting star sits just above the 1.60 level,

GBP/USD Forecast for the week of December 10, 2012, Technical Analysis

The GBP/USD pair rose during the previous week, but fell in the end in order to form a shooting star. This shooting star sits just above the 1.60 level, and as a result looks like we are trying to break back down below that support area. However, the previous week was a hammer, so this could simply signal that we’re going to go sideways for the time being. This would make sense, as we are entering the month of December’s lowest liquidity phase as the holidays draw near. With this being the case, we are very flat of this pair, and are willing to buy any signs of support.

About the Author

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.

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