The GBP/USD pair broke much higher during the course of the day on Monday, breaking out above the 1.6050 region. The market still is a very bearish
The GBP/USD pair broke much higher during the course of the day on Monday, breaking out above the 1.6050 region. The market still is a very bearish though, so we have no interest whatsoever in buying this market, and we simply are waiting for some type of resistant candle in order to start selling. The market is still very bearish, and the fact that we did go below the 1.60 level has serious bearish pressure on the British pound, and as a result we have no interest in buying at this point in time.
GBP/USD Forecast October 7, 2014, 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.
