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GBP/USD Forecast January 11, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Saturday, 09 January 2016 05:56 UTC

The GBP/USD pair fell significantly during the course of the session on Friday, breaking down below the bottom of the hammer from the Thursday session. We tested the 1.45 level for support, and as a result it looks as if we are trying to break down. If we can get below the 1.45 level though, that should accelerate the downside for this pair. Any rally at this point in time should be a selling opportunity though, and we would simply wait for a rally that show signs of exhaustion in order to start shorting this market yet again as the US dollar is most certainly much stronger than the British pound.

GBP/USD Forecast January 11, 2016, Technical Analysis

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