The GBP/USD pair rallied during the week, crashing into the 1.25 handle. There is a significant amount of resistance above, and thus I think it’s likely
The GBP/USD pair rallied during the week, crashing into the 1.25 handle. There is a significant amount of resistance above, and thus I think it’s likely that we will pull back. However, if we can break above the 1.27 level, the markets free to go much higher at that point. We have the Article 50 being triggered soon, so that could continue to put bearish pressure on the British pound. Longer-term though, I believe that we are going to go much higher, as we get through that process.
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.
