GBP/USD Forecast November 8, 2016, Technical Analysis

The GBP/USD pair fell during the day on Monday, as the 1.25 level has offered resistance yet again. Ultimately, I believe that this market will continue to go lower, perhaps reaching towards the 1.22 handle below. If we can make a fresh, new high, it’s likely that we will try to get all the way up to the 1.2850 level, which has previously been massively supportive and should now be massively resistive. I still believe in the longer-term downtrend, so therefore I’m waiting to see whether or not we can break down below the bottom of the range during the day on Monday. - 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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