GBP/USD Daily Forecast - 25 April

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Wednesday, Apr 25 2018

GBP/USD Daily Forecast - 25 April

The British pound initially pulled back during the trading session as well but turned around to form a bit of a hammer. If we can break above the 1.40 level above, and perhaps even the 50-day EMA, I think that we could go higher and reach towards the 1.43 level above. The uptrend line underneath should continue to keep this market higher, so even if we pull back from here I think that the move lower would probably be short term in nature.

In fact, dailyforex.com has no interest in shorting this market, least not until we would break down through the 1.3650 level, which would be a collapse of the uptrend. I believe that we are simply seeing the market trying to pick up enough momentum to finally break above the 1.43 level and reach towards the 1.45 level after that.

More in this category: « EUR/USD Daily Forecast - 24 April AUD/USD Daily Forecast - 26 April »

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