GBP/USD Forecast April 29, 2014, Technical Analysis

The GBP/USD pair broke out to the upside during the session on Monday, but as you can see pulled back enough to form a massive shooting star. Even though this is a very sign, we feel that there’s enough support below that we don’t necessarily want to start shorting, and recognize that any half of lower will be strewn with quite a bit of noise. With that, we are looking for supportive candle in order to start buying, or perhaps a break above the shooting star from the session. You one of those hazardous aiming for the 1.70 handle.