GBP/USD Forecast January 10, 2014, Technical Analysis

The GBP/USD pair rose during the session on Thursday, but found the 1.65 level resistive yet again. Because of this, the market pulled back slightly but still looks like it is going to struggle to get above there. However, we do ultimately think it will happen, but with nonfarm payroll numbers coming out later today, it’s very likely that the pair will struggle between now and then. On a daily close above the 1.65 level, we think that this market will start to march towards the 1.70 handle, the base case scenario that we have at the moment.

 

GBP/USD Forecast January 10, 2014, Technical Analysis

Written by FX Empire