GBP/USD Forecast April 11, 2017, Technical Analysis

GBP/USD daily chart, April 11, 2017

The GBP/USD pair bounced during the session on Monday as the 1.2350 level held supportive. However, I think we are basically just bouncing around and overall consolidation, but the impulsive negative candle on Friday leads me to believe that there is still a significant amount of bearish pressure currently. I believe that we will go back and forth in the immediate area over the next several sessions. I think that as long as there are a lot of questions about the British leaving the European Union, this pair will continue to chop.

Written by FX Empire