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GBP/USD Forecast: upward correction underway

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Jan 11, 2016.

  1. Sandra S.

    Sandra S. Forum Member

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    The GBP/USD started the week plummeting to 1.4493, a fresh multi-year low, recovering ground, however, following the London opening. With no data released in the UK, the recovery is merely corrective considering that the pair has been falling steadily for eight days in-a-row. As for the technical outlook, the 4 hours chart shows that a strongly bearish 20 SMA, continues capping the upside at 1.4585, a couple pips above the so far daily high, while the technical indicators have bounced

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