GBP/USD Forecast December 9, 2016, Technical Analysis

The British pound initially went higher during the day on Thursday but found enough resistance of the previous 50% Fibonacci retracement level again to turn things around and start falling. The market has a supportive trend line underneath, and because of this it looks as if the market will have a bit of support to deal with. If we can break down below the 1.25 level however, the market should continue to go much lower, perhaps down to the 1.23 handle. I think that rallies will continue to offer short-term selling opportunities on signs of exhaustion. - 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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