GBP/USD Technical Analysis
The British pound has rallied ever so slightly during the Good Friday trading session in what of course would have been thin conditions, but it is an extension of the overextended condition that we have been in. I think at this point in time, we could very well see a market that is possibly going to go sideways, at least in the short term, in order to pick up more buyers. After all, we are overbought at this point, and the market, of course, has been all over the place.
One has to think that it would only take a tweet or announcement to turn this thing right back around 200 pips. That seems to be the nature of markets right now in general. I think the best case scenario right now is that we go sideways, and we get more of a stable market because quite frankly, I think that’s what everybody wants anyways.
