GBP/USD Forecast March 1, 2017, Technical Analysis

GBP/USD daily chart, March 01, 2017

The GBP/USD pair went back and forth during the day on Tuesday as we continue to test the 1.24 level for support. Recently, we have been consolidating and I think given enough time we will find enough support on short-term charts to start buying the British pound again and aiming for the 1.2550 level above. It is a market that desperately need some type of impulsive candle to place any real faith in a longer-term trade, so in the meantime I think short-term trading is about as good as this will get.

Written by FX Empire