The British pound rose during the session on Friday, reaching towards the 141 level above. If we can break above that level, that would be a very bullish
The British pound rose during the session on Friday, reaching towards the 141 level above. If we can break above that level, that would be a very bullish sign. If we cannot, then I think we see the sellers come back into the marketplace. Quite frankly, most of this move has been due to the British pound rallying against the US dollar. Ultimately, I think that it’s only a matter of time before the sellers return, so I am waiting to see if there is some type of exhaustion. If we get that, I see no reason why the market won’t go looking for the 139.50 level below again.
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.
