GBP/USD Forecast September 18, 2017, Technical Analysis

GBP/USD daily chart, September 18, 2017

The British pound skyrocketed against the US dollar again on Friday, as fallout from the British central bank suggesting that interest rate hikes are coming sooner rather than later continues. However, we are testing a major resistance barrier in the form of the 1.36 region, which is where we had seen a major gap from the Brexit vote. Because of this, I think we may get a pullback but I look at the pullback as a buying opportunity, especially the market can hold the 1.34 handle. Buying now would be “chasing the trade.”

Written by FX Empire