GBP/USD Forecast November 27, 2013, Technical Analysis

The GBP/USD pair initially fell during the session on Tuesday, but as you can see recovered and shot back above the 1.62 handle. This of course is a fairly bullish sign, but wasn’t enough to truly break out, and as a result we feel that this market will more than likely consolidate a bid in this general vicinity. Because of this, we are on the sidelines, we do have a bullish outlook for this pair, and a daily close above the 1.63 level is exactly what is going to take for us to go long.

GBP/USD Forecast November 27, 2013, Technical Analysis

Written by FX Empire