GBP/USD Forecast March 20, 2017, Technical Analysis

The British pound rose during the Friday session but found the 1.24 level to resistive to continue. By forming a shooting star, this suggests that we are going to pull back in a break below the bottom of the range for the day should be rather negative. I don’t think we’re going to break down significantly from here though, I think this is a short-term trade at best. There are a lot of conflicting opinions as to what the Article 50 will do to this pair, currently I believe that we will fall from here but value hunters will pick up the pieces rather quickly. - 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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