GBP/USD Forecast April 21, 2017, Technical Analysis

GBP/USD daily chart, April 21, 2017

The GBP/USD pair rallied on Thursday, as we continue to consolidate above the 1.2750 level. I think that it’s only a matter of time before rally, and the market should then go towards the 1.3450 level longer term. Short-term pullbacks will continue to be dips, and I believe that the British pound is done falling longer term. It doesn’t mean that it’s going to be an easy move, but I do recognize that is the next major resistance barrier facing this very bullish market that has just crossed above the 200-day exponential moving average.

Written by FX Empire