GBP/USD fell again on Thursday as traders continue to sell off other currencies against the US dollar. The 1.55 level is the start of massive support, and goes all the way down to the 1.53 mark. The next 200 pips will be difficult for the bears, but the direction is decidedly down at the moment, and we only sell cable now. Rallies are for selling, and a break of 1.53 has us aggressively short.
GBP/USD Forecast Nov. 25th, 2011, Technical Analysis
Originally posted here
