GBP/USD Forecast April 23, 2012, Technical Analysis

The GBP/USD pair shot straight up for the Friday session as the 1.6050 level finally gave way. The move may be a bit overextended at the moment, but the pair looks like it is a good “buy the pullbacks” kind of pair as long as we are above the 1.60 level. The selling of this pair cannot be done at the moment, and at the very least not until we get a daily close below the 1.59 mark. As a result, we are buying dips in this pair going forward. The bonus is also that it pays a positive swap as well.

Written by FX Empire