The GBP/USD pair initially fell during the day but did bounce a bit to form a slight hammer. I believe that this market is going to continue to
The GBP/USD pair initially fell during the day but did bounce a bit to form a slight hammer. I believe that this market is going to continue to consolidate just above the 1.30 level, so short-term buying opportunities could present themselves, just as short-term selling opportunities could on signs of exhaustion above. I’m not looking for any major move at this point in time, I believe that this market is simply trying to catch his breath after the major meltdown. Because of this, I’m not really wanting to put too much in the way of a sizable position on in this market.
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
