GBP/USD Forecast July 3, 2013, Technical Analysis

The GBP/USD pair fell during the session on Tuesday, breaking down to the 1.5150 handle or so, showing that this market is continued selloff and perhaps head towards the 1.50 handle before it’s all said and done. This was the move that we anticipated, and now that we have broken the lows of the Friday candle we are more than comfortable selling this position for the next 150 pips or so. The 1.50 level of course could be psychologically significant and could offer significant support. It is because of this that we are very careful in that general vicinity, and would more than likely take profits just above there.

 

GBP/USD Forecast July 3, 2013, Technical Analysis

Written by FX Empire