GBP/USD forecast for the week of February 8, 2016, Technical Analysis
The GBP/USD pair broke higher during the course of the week, testing areas above the 1.45 level. We gave back quite a bit of the gains though, so at this point in time although it looks like we could go higher, it’s going to be a fight. We simply wait
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The GBP/USD pair broke higher during the course of the week, testing areas above the 1.45 level. We gave back quite a bit of the gains though, so at this point in time although it looks like we could go higher, it’s going to be a fight. We simply wait until we get a resistant candle above in order to start shorting yet again as the downtrend has been so reliable for several months now. At this point, as long as there is a lot of uncertainty around the world, the US dollar should continue to strengthen.
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