By FXEmpire.com
The GBP/USD pair shot through the 1.60 handle on Friday to close out the week strong. As a general rule, this is a buy signal in and of itself. However, as the pair closed at just ten pips above the handle, it isn’t as convincing as we would like to see in order to go long. For the longer-term trader, we think waiting until a daily close above the 1.650 level should suffice as confirmation of a move into the next trading area of 1.60 to 1.65 or so. We don’t sell this pair on the longer-term charts as the 1.58 level below is a massive support area.
GBP/USD Forecast for the Week of April 2, 2012, Technical Analysis
Originally posted here
