GBPUSD Target seems to be 1% Up
There are numerous forecasts that the Sterling should fall. Some traders write that British Pound is testing highs considering that the Bank of England quantitative easing program would create a total financial loss of around 100 billion pounds ($125 billion) by 2033, which will need to be funded by the government. These considerations weaken the Pound. Thus, everyone is waiting to go short. However, current price at 1.2580 without any downside signal. Technical resistance is at 1.25 and at 1.27. So, if prices will be above 1.25 next week I’ll keep buying GBPUSD.
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