The GBP/USD pair initially dipped at the open but found enough support to continue to push against the 1.27 handle. If we can break above there, I think
The GBP/USD pair initially dipped at the open but found enough support to continue to push against the 1.27 handle. If we can break above there, I think the next area that were going to test of the 1.2850 level. That’s an area that I think should continue to be important as it used to be support, and it should now be resistance. An exhaustive candle at that area should be a nice selling opportunity as we continue to expect interest-rate hikes out of the Federal Reserve, while the British of course are not going to be raising rates anytime in the foreseeable future.
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.
