GBP/USD Forecast April 6, 2017, Technical Analysis

The British pound rallied during the session on Wednesday, as the 1.24 level continues to offer support. Because of this, it looks as if this is a “buy on the dips” type of market, but I also see a significant amount of resistance near the 1.26 handle. In other words, this is consolidation, but with a slightly upward bias. Keep in mind that there are a lot of headlines about the British pound now and of course the British economy, so this could be a messy trade. Ultimately, this is a market that I believe breaks out to the upside over the longer term.

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