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.
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.
