The GBP/USD pair initially fell during the day on Tuesday, but broke back to the upside and above the 1.52 level during the day. Nonetheless, we are still
The GBP/USD pair initially fell during the day on Tuesday, but broke back to the upside and above the 1.52 level during the day. Nonetheless, we are still very much in consolidation, so we feel that this market is probably one that best left alone at the moment. We believe that this market has quite a bit of bearish pressure on it though, so we are much more comfortable selling on a break down than anything else currently. Even if we break out to the upside, we feel there is more than enough resistance above to offer selling opportunities.
GBP/USD Forecast November 18, 2015, Technical Analysis
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.
