GBP/USD Forecast April 13, 2017, Technical Analysis

The GBP/USD pair initially rally during the day on Wednesday, but ran into a little bit of trouble at the psychologically important 1.25 handle. That’s not a huge surprise, it is an area where you would expect a lot of noise. I still believe that the market is consolidating overall, and that should give us an opportunity to buy on the dips, unless of course we break down below the 1.2350 level. That area has been rather supportive and a breakdown below there would send this market looking for the 1.21 handle. There seems to be a pickup in inflation when it comes to the British pound, so that should continue to benefit the currency.

Eracash.com - 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.

All prices herein are provided by market makers and not by exchanges. As such prices may not be accurate and they may differ from the actual market price. Eracash.com bears no responsibility for any trading losses you might incur as a result of using any data within the Eracash.com