GBP/USD Forecast September 18, 2017, Technical Analysis

The British pound skyrocketed against the US dollar again on Friday, as fallout from the British central bank suggesting that interest rate hikes are coming sooner rather than later continues. However, we are testing a major resistance barrier in the form of the 1.36 region, which is where we had seen a major gap from the Brexit vote. Because of this, I think we may get a pullback but I look at the pullback as a buying opportunity, especially the market can hold the 1.34 handle. Buying now would be “chasing the trade.” - 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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