Thursday 31 March 2016

GBP/USD Will Likely Start Falling Again




GBP/USD reached the resistance at 1.4470 and formed a doji candlestick on the daily time-frame below that level. This means that is quite likely that the pair will start moving to the downside again, its first target being around 1.4280. Should it break below that level I think we can expect a further drop towards the next support around 1.4100. All that said, we should, of course, take into consideration that tomorrow is the first Friday of April, which means that the US change in the Non-farm payrolls will be announced, so this prognosis might change depending on the results of the fundamentals.

3 comments:

  1. We'll have to wait for the NFP.

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  2. I fully agree with you, we have to wait for the NFP later today.

    ReplyDelete