GBP/USD Forecast September 6, 2017, Technical Analysis

GBP/USD daily chart, September 06, 2017

The GBP/USD pair initially went sideways during the trading session on Tuesday, but shot higher as we broke above the 1.30 level. The resistance that starts at that level extends to the 1.3050 level, so I think it’s likely that we could see a bit of resistance. However, if we were to break out to the upside, it’s likely that the market continues to go higher. Some type of exhaustive candle here could be a nice selling opportunity, as it could turn the market around completely. We are currently consolidating, but today could be a signal as to where we go next.

Written by FX Empire