GBP/USD Forecast April 25, 2012, Technical Analysis

GBP/USD had a bullish day on Tuesday, proving the hammer from the Monday session to be support after all. However, with the Federal Reserve meeting and announcement coming later in the day, it is best to wait until we get the reaction from the announcement before entering this pair.

However, for those of you that are currently long of this pair – there is nothing in this chart that would warrant getting out of the pair as it looks very healthy indeed. Pullbacks should more than likely provide buying opportunities in this pair unless we break below the 1.59 level.

Written by FX Empire