GBP/USD Forecast November 10, 2016, Technical Analysis

The British pound initially rallied during the day Wednesday, but found enough resistance above the 1.25 level to turn things around and form a shooting star. This is a shooting star right at a major resistance barrier, so it makes sense that we would continue to go lower from here as we are in a longer-term downtrend. I don’t think that were going to see some type of massive selloff, rather a break down below the bottom of the scandal could send the market looking for the 1.22 handle again. I have no interest in buying. - 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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