GBP/USD Forecast March 3, 2017, Technical Analysis

GBP/USD daily chart, March 03, 2017

The GBP/USD currency pair fell during the day on Thursday, testing the 1.2250 level. This is an area that has been a bit of minor support and resistance in the past, so a bounce from here is not necessarily a surprise to me. If we can break above the 1.23 level, the market will more than likely reach towards 1.24 level, perhaps even the 1.25 level. A breakdown below the 1.2250 level should send this market down to the 1.20 handle underneath there. Regardless, expect quite a bit of volatility here.

Written by FX Empire