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GBP/USD Forecast December 7, 2015, Technical Analysis

Daily Forex Reports | by FX Empire | Saturday, 05 December 2015 06:08 UTC

The GBP/USD pair fell slightly during the course of the session on Friday, as we collected some of the gains from the Thursday session. Ultimately though, we recognize that the market had a very bullish run recently, so we are a bit hesitant to start selling. On top of that, we ended up forming a hammer on the weekly chart and that of course is a very bullish sign. With this being the case, and the fact that the 1.52 level above should be resistance, we are going to stand on the sidelines as far as shorter-term traders concern when it comes to the British pound.

GBP/USD Forecast December 7, 2015, Technical Analysis

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