GBP/USD Forecast January 27, 2016, Technical Analysis

The GBP/USD pair initially fell on Tuesday but turned back around to break above the 1.43 level. This is a fairly positive sign, but at this point in time we still believe that the 1.45 level above will offer resistance, and we are most certainly in a massive downtrend. We are simply waiting to see whether or not we get a resistive candle above in order to start shorting this market as the downtrend has been so strong. We believe that the 1.40 level below will be supportive though, so don’t expect a massive meltdown anytime soon. - 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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