GBP/USD Forecast January 22, 2016, Technical Analysis

The GBP/USD pair initially fell during the day on Thursday, but found enough support near the 1.4050 level to turn things back around and form a significant looking hammer. However, there is quite a bit of bearish pressure above as we have continued to fall over the course of the last several months. Because of this, we will look for rallies to offer selling opportunities above, as exhaustive candles will be signals to start picking up the US dollar based upon value. We still believe that this pair is reaching towards the 1.40 level given enough time. - The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate.

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