GBP/USD Forecast October 11, 2016, Technical Analysis

The GBP/USD pair did very little during the day on Monday as we continue to simply meander just below the 1.24 level. Ultimately, I believe that this market will have to make some type of move, but at this point in time it seems like we are simply waiting for the momentum to come back to this market. I believe that the 1.20 level below is the “floor”, and perhaps the target over the shorter-term. Rallies the show signs of exhaustion will more than likely be selling opportunities going forward as there is so much negativity about the British pound. - 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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