GBP/USD Forecast July 16, 2014, Technical Analysis

The GBP/USD pair broke higher during the session on Tuesday, but could not clear the 1.72 level that we have been looking for in order to start buying again. Because of this, we are still on the sidelines of this pair, but recognize that the move is likely to happen sooner or later. After all, this is a pair that has been in a nice uptrend for some time, and it should be noted that the EUR/GBP pair fell hard during the session as well. With that, we are bullish been waiting for that move above 1.72 in order to go long.

 

GBP/USD Forecast July 16, 2014, Technical Analysis