By FX Empire.com
The GBP/USD pair had a wild day on Tuesday, swinging back and forth between gains and losses, only to print a long-legged doji at the end of the day. The pair is decidedly bearish at the moment, and the 1.55 level does in fact seem to be calling. However, a bounce could come as the support actually starts at the 1.56 level, and the market has been very volatile lately – adding to the odds of a bounce. The pair should be sold on rallies in our opinion, and will continue to suffer at the hands of the “risk off” attitude of the markets.
GBP/USD Forecast Nov. 23rd, 2011, Technical Analysis
Originally posted here
