The GBP/USD pair initially rallied during the course of the week, but found the 1.62 level to be resistive enough to turn things back around and form a
The GBP/USD pair initially rallied during the course of the week, but found the 1.62 level to be resistive enough to turn things back around and form a shooting star. The shooting star of course suggests that there is still bearish pressure in this marketplace, and on a break of the bottom of the shooting star we would be sellers. With no interest in buying this market at the moment, as the US dollar in general is far too strong due to interest rates and economic expectations going forward.
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.
