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.
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.
