The GBP/USD pair broke higher during the course of the week, clearing the 1.52 level. However, we recognize that this market has a slight downward tilt to
The GBP/USD pair broke higher during the course of the week, clearing the 1.52 level. However, we recognize that this market has a slight downward tilt to it, and as a result it should continue to go lower over the longer term. We are waiting for some type of resistant candle above in order to start selling, and with this, the market should continue to go towards the 1.49 level over the next several weeks. We have no interest in buying this market, at least not until we get well above the 1.55 handle from a longer-term standpoint.
GBP/USD forecast for the week of November 16, 2015, Technical Analysis
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.
