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GBP/USD Forecast January 25, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Saturday, 23 January 2016 05:52 UTC

The GBP/USD pair rallied during the session on Friday, but did struggle little bit towards the end of the day in order to form a somewhat exhaustive candle. This exhaustive candle suggests that perhaps we could pullback but it should be noted that we ended up forming a massive hammer for the week. In other words, a break above the top of the candle for the day on Friday could be a short-term buying opportunity but ultimately we believe it is going to be easier to sell this market on exhaustive candles after rallies.

GBP/USD Forecast January 25, 2016, Technical Analysis

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