GBP/USD Daily Forecast - 8 June

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Friday, Jun 08 2018

GBP/USD Daily Forecast - 8 June

The British pound went back and forth during the trading session on Thursday, perhaps in reaction to word getting out that the United Kingdom was going to leave the custom union as well as the European Union.

Overall, I think that the market is going to continue to be very choppy, and of course very difficult. I think that the 1.3650 level above will be a bit of a “ceiling”, while the 1.33 level underneath should be supportive. If we make a fresh, new low, then the market will unwind to the 1.30 level. If we break out to the upside, I would anticipate seeing a lot of selling pressure near the 1.3650 level.

More in this category: « EUR/USD Daily Forecast - 7 June AUD/USD Daily Forecast - 11 June »

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