The GBP/USD pair initially tried to rally during the day on Monday but found enough resistance of the 1.52 level to turn things around and form a rather
The GBP/USD pair initially tried to rally during the day on Monday but found enough resistance of the 1.52 level to turn things around and form a rather negative candle. We believe that the GBP/USD pair will continue to go down towards the 1.50 level, which has been massively supportive recently. However, the downtrend should continue, and as a result it’s only a matter of time before the sellers step back into this market. Rallies will be selling opportunities, and sooner or later we could break down below the 1.50 level. Once we get below there, the market should be free to head towards the 1.48 level.
GBP/USD Forecast November 24, 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.
