The GBP/USD pair had a negative week over the last five sessions, but did bounce in order for a hammer like candle. We close above the 1.60 level, and
The GBP/USD pair had a negative week over the last five sessions, but did bounce in order for a hammer like candle. We close above the 1.60 level, and this of course looks like more support. We are very bullish of this market, and will by the cable pair above the highs from this previous week. With this being said, we still believe that the 1.63 level will be targeted over the longer-term, as well as higher levels than that. We still believe that 1.70 will be seen sometime during the year 2013.
GBP/USD Forecast for the week of December 3, 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.
