GBP/USD Forecast February 27, 2013, Technical Analysis

The GBP/USD pair fell during the session on Tuesday, as the gap has finally been filled from the weekend. The candle looks resistive, almost like a shooting star. This market looks like it is almost ready to continue lower, and run down towards the 1.50 handle. Because of this, we are willing to start selling on a break of the lows on Tuesday, and take advantage of a currency that simply cannot get out of its own way. As far as buying is concerned, we have no plans on doing so as the Pound has been so poor lately.



Written by FX Empire