The GBP/USD pair rallied significantly during the day on Friday, reaching towards the 1.32 handle. The market looks likely to run into a bit of trouble
The GBP/USD pair rallied significantly during the day on Friday, reaching towards the 1.32 handle. The market looks likely to run into a bit of trouble near the 1.3250 level, so I think that it’s only a matter of time before we sell off. However, if we were to break above the 1.3250 level, the market goes much higher. Ultimately, I think that the market needs to make a significant amount of momentum building to continue higher, so I suspect that the real risk is probably to the downside. However, if we break out to the upside you can’t fight that type of momentum.
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.
