GBP/USD Forecast March 5, 2012, Technical Analysis

The GBP/USD pair had a strong showing on Monday, as the 1.50 level has offered support yet again. Whether or not this could be some type of unwinding of the short sell is a completely different question, but a bounce from this area does in fact make sense. With this in mind, we believe that waiting and being patient enough to start selling from higher levels is the way to go. Nothing has fundamentally changed in this pair, and as a result we simply wait for the market to come back to us, and start selling again.



Written by FX Empire