GBP/USD Forecast October 21, 2016, Technical Analysis

The GBP/USD pair fell slightly during the day on Thursday, and then bounced a bit the form a candle that looks a bit like a hammer. At the end of the day though, I have no interest in buying the British pound although I do think we are stabilizing a bit. I think the 1.2 level will continue to be very supportive, but eventually we could break down below there. I have no interest in buying, I think the best way to trade this market is to simply sell short-term rallies that show signs of growing over. - 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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