GBP/USD Forecast April 17, 2017, Technical Analysis

GBP/USD daily chart, April 17, 2017

The GBP/USD pair rallied on Friday, but it is facing a bit of resistance above. If we can break above the 1.27 level above, the market will more than likely move to the upside on the longer-term charts, but currently I think there’s a good chance that we will see some type of resistance in the short term, but I will be cognizant of the potential breakout. There are inflationary signals in the British economy, so we could see the Bank of England raising rates sooner than anybody would have ever thought.

Written by FX Empire