The GBP/USD pair went sideways during the day on Monday, as we continue to churn just above the 150 level. The 150-level underneath should continue to be
The GBP/USD pair went sideways during the day on Monday, as we continue to churn just above the 150 level. The 150-level underneath should continue to be supportive, and I believe that it is only a matter of time before the buyers come back in on these dips. I believe that the 148.50 level is also supportive, so it’s only a matter of time before the buyers take over. I like the idea of buying dips in this market, especially if stock markets do well. This is because this pair is highly correlated to risk appetite, which seems to be relatively strong currently.
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.
