The GBP/USD pair fell hard during the session on Thursday, crashing into the 1.6150 area. The market looks as if it’s ready to continue going lower, but
The GBP/USD pair fell hard during the session on Thursday, crashing into the 1.6150 area. The market looks as if it’s ready to continue going lower, but there is a significant amount of support at the 1.60 level, so it is a fairly short-term trade that we would be looking out to the downside. Short-term rallies could be sold, but quite frankly it’s probably best to just simply leave this market alone as there are easier setups out there in the Forex markets. However, we will certainly continue to monitor this pair.
GBP/USD Forecast October 3, 2014, 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.
