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GBP/USD Forecast September 19, 2017, Technical Analysis

By:

Christopher Lewis

Updated: Sep 19, 2017, 05:53 GMT+00:00

The GBP/USD pair fell after initially trying to rally on Monday. It looks as if we are bit overextended, and we have filled the gap on longer-term charts.

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The GBP/USD pair fell after initially trying to rally on Monday. It looks as if we are bit overextended, and we have filled the gap on longer-term charts. I think a pullback is necessary, and quite frankly makes sense after this recent impulsive move to the upside. Having said that, I’m not looking to short this market, I just think that we may be able to find bullish pressure underneath, and therefore value that we can take advantage of. I am willing to sit on the sidelines in the meantime as I await value to take advantage of.

GBP/USD Video 19.9.17

About the Author

Christopher LewisSenior Analyst

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.

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