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GBP/USD forecast for the week of August 8, 2016, Technical Analysis
Published: Aug 6, 2016, 04:53 GMT+00:00
The British pound initially tried to rally during the course of the week, but turn right back around to form a bit of a shooting star. By doing so, it
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The British pound initially tried to rally during the course of the week, but turn right back around to form a bit of a shooting star. By doing so, it looks as if the markets are going to continue to be negative in every time we rally it’s likely that the market will continue to find resistance that we can start falling apart on. Because of this, I’m looking for selling opportunities but I am actually looking for them on short-term charts, as I believe there is far too much support just below to try to hang onto a longer-term selling position.
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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