GBP/USD Technical Analysis September 2, 2011

The GBP/USD pair fell on Thursday, and even managed to break below the 1.62 mark as traders sold off many risk-related assets around the world. The Pound has been a favorite of sellers lately, but now is getting into more serious support. We did see a significant bounce at the end of the session, but the pair is decidedly weak. With the choppiness in this pair lately, with think that selling rallies is now the way to go in this pair.

Written by FX Empire