GBP/USD Forecast October 13, 2016, Technical Analysis

The GBP/USD pair went back and forth during the course of the session on Wednesday, as we continue to drift slightly lower over the course of time. I believe that it’s only a matter time before the sellers get involved when we rally and I also believe that the 1.20 level below will be tested again. Given enough time, we could very well break down below there but I think that we are going to see much shorter moves in the meantime, so therefore look for short-term rallies that show signs of exhaustion in order to take advantage of “value” in the US dollar. - 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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