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.
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.
