GBP/USD weekly chart, February 20, 2017

GBP/USD forecast for the week of February 20, 2017, Technical Analysis

The GBP/USD pair had a slightly negative week, but found support on Friday near the 1.24 level. This is an area that must hold to continue the uptrend, the we had started just a couple of weeks ago, if we can get a bullish move, I’m willing to buy this market but I recognize that we could very well pull back to build up more momentum. It’s possible that we are trying to reverse the overall trend, but right now it’s early in that move. Longer-term traders are going to struggle.

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