GBP/USD Forecast December 23, 2016, Technical Analysis

The British pound fell on Thursday, as we continue to grind lower. In fact, we have broken below the 1.23 level, so it looks as if the market will probably continue down to the 1.21 Anna below. This is an area that should be supportive yet again, as we have seen such a nice bounce from there. Ultimately though, I think we’re going to test the 1.20 level underneath there, and then possibly even break down underneath it. The Federal Reserve continues to raise interest rates in my opinion, and thus this market continues to struggle.

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