The GBP/USD pair initially fell during the course of the day on Monday, but turned back around and slammed into the 1.58 level. Because of this, we feel
The GBP/USD pair initially fell during the course of the day on Monday, but turned back around and slammed into the 1.58 level. Because of this, we feel that the market will eventually break out to the upside, but we need to clear the 1.58 level in order to start buying. At that point in time, we feel that the market will then head towards the 1.59 level, and possibly even higher than that given enough time. We have no interest whatsoever in selling at this point as the British pound continues to show strength.
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.
