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.
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.
