GBP/USD Technical Analysis September 29, 2011

GBP/USD had a slightly bearish day on Wednesday, but it should be noted a lot of those losses came late in the session again. This shows that rallies cannot be trusted, and they are simply providing selling opportunities at this point. Because of this, we sell rallies, and we do not buy this market. The pair is bearish, and the recent downdraft isn’t the kind of violent and sudden move that happens in a vacuum. Because of this – selling is the order of the day.

Written by FX Empire