The GBP/USD fell hard again on Thursday, forming the second long red candle in a row. The pair is broken by all accounts, and we are in a downtrend by just about any metric. However, we are expecting a bounce sooner or later – of which we would be happy to sell. If we get a rally, we will sell on signs of weakness at this point in time. We expect 1.53 to be supportive, as well as the 1.50 area. 1.55 should now be resistive. Selling rallies continues to be our strategy for this pair now.
FXEmpire.com:
FX Empire is firmly dedicated to strengthening our readers’ knowledge of the minute-to-minute happenings in the Forex market. Delivering daily and weekly technical analyses, fundamental analyses and news, alongside our expert broker reviews, our readers are always in the know.
Check out the latest Brokers Reviews by FX Empire: Forex Club Review, ForexYard Review, FX Primus Review.
