The GBP/USD pair initially tried to rally during the course of the week, but found the 1.55 level to be far too resistive. With that being the case, the
The GBP/USD pair initially tried to rally during the course of the week, but found the 1.55 level to be far too resistive. With that being the case, the market broke down below the 1.52 handle. Because of this, and the fact that we are closing towards the bottom of the candle suggests that perhaps we will continue to go lower. The 1.50 level is just below, so that could cause a little bit of a bounce, but at this point in time we think that would only end up being a selling opportunity as the us dollar is favored.
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.
