The GBP/USD pair broke higher during the course of the day on Tuesday, but found the 1.61 level to be a bit resistive. With that, we feel that this market
The GBP/USD pair broke higher during the course of the day on Tuesday, but found the 1.61 level to be a bit resistive. With that, we feel that this market is probably going to start running into resistance above this region, and we believe at that point in time we will start to see the market selloff yet again. However, if we get above the 1.63 handle, at that point time we would be buyers as the market will have proven itself to have changed attitude over the last several sessions, perhaps heading to the 1.65 level.
GBP/USD Forecast October 8, 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.
