The British pound initially fell during the week but found enough support at the 1.2850 level to turn around and form a hammer. I believe that this market
The British pound initially fell during the week but found enough support at the 1.2850 level to turn around and form a hammer. I believe that this market is going to continue to go higher, and a break above the 1.3050 level is that signal. At that point, I believe the market can go looking towards the 1.33 handle, and then eventually the 1.35 level. The British pound has shown a significant resurgence during the week, and I think it looks good overall. However, if we were to break down below the 1.2850 level, that would be a negative sign.
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.
