GBP/USD Forecast April 18, 2017, Technical Analysis

GBP/USD daily chart, April 18, 2017

The British pound rallied during the day on Monday, breaking above the 1.25 handle, and testing the 1.26 handle. It looks as if the British pound is trying to break out to the upside, and because of that it’s very likely that we will continue to go higher over the longer term. We could pull back occasionally to try to find buyers, and with this being the case it’s likely that the momentum is trying to be built up. I don’t have any interest in shorting, looks as if the British pound is continuing to strengthen over the longer term.

Written by FX Empire