By FX Empire.com
GBP/USD finally found the 1.55 mark on Wednesday that we have been calling for recently. The level marks the start of a massive support band down to the 1.53 level. Because of this, we aren’t keen on selling at these current levels. The candle was very bearish, and does indicate that the next large move is more than likely down. However, we will want to see a bounce to sell, or the 1.53 level cleared to get aggressively short in this pair. We aren’t buying at the moment.
GBP/USD Forecast Nov. 24th, 2011, Technical Analysis
Originally posted here
