The GBP/USD pair broke down during the session on Friday, slicing through the 1.48 level. The 1.48 level was the bottom of the supportive zone that we had
The GBP/USD pair broke down during the session on Friday, slicing through the 1.48 level. The 1.48 level was the bottom of the supportive zone that we had talked about previously, and now it looks like the market is ready to go much lower. With that being the case, the market looks as if it is going to continue going lower, as the US dollar is favored as far as Forex traders are concerned. The British pound looks like it’s going to soften up quite a bit, and as a result we believe that money continues to flow from right to left when it comes to the Atlantic Ocean.
GBP/USD Forecast March 16, 2015, Technical Analysis
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.
