The GBP/USD pair initially fell during the course of the session on Thursday, but as you can see we are still very much in consolidation. Because of this,
The GBP/USD pair initially fell during the course of the session on Thursday, but as you can see we are still very much in consolidation. Because of this, I believe that the market will continue to go back and forth, offering buying and selling in a fairly tight range. With this being the case, the 1.30 level below should be supportive, but if we can break down below the 1.28 handle, this market could enter a bit of a freefall. A bounce from here that shows an exhaustive candle should be a selling opportunity as well.
Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.
