GBP/USD Forecast January 2, 2014, Technical Analysis

The GBP/USD pair rose during the session on Tuesday, breaking through quite a bit of resistance. The fact that we close above the 1.65 level signifies to us that this market is going to continue going higher, and therefore buying pullbacks will be the way we continue to trade this market. Quite frankly, we don’t see any reason to sell this market right now as the British pound has been doing so well against so many other currencies. While this pair might be more of a grind, the British pound certainly appears to be one of the most favored currencies at the moment. 

GBP/USD Forecast January 2, 2014, Technical Analysis
Written by FX Empire