GBP/USD Forecast January 9th, 2012, Technical Analysis

GBP/USD fell on Friday as traders continue to show concern of all things European related. The 1.55 to 1.53 level is one massive support zone, and a break below that area would signal that the rout is on in this cable pair.

The 1.57 level above starts a massively resistive area that goes up to the 1.58 handle. The pair will continue to be sold by us on rallies, and will most certainly be sold heavily if we can close below the 1.53 level.

 

GBP/USD Forecast January 9th, 2012, Technical Analysis

Written by FX Empire