The GBP/USD pair bounced during the course of the week, and closed just above the 1.66 level. That being the case, the market looks as if it’s ready to go
The GBP/USD pair bounced during the course of the week, and closed just above the 1.66 level. That being the case, the market looks as if it’s ready to go up to the 1.68 handle, so therefore a break above the top of the range for the previous week has us aiming for that level. We believe that this market will more or less go sideways in the meantime, with an upward bias. There is a massive amount of support just below the 1.65 handle, so selling doesn’t make sense.
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.
