The GBP/USD pair initially fell on Monday but found enough support near the 1.24 level to turn things around and form a hammer. That of course is a
The GBP/USD pair initially fell on Monday but found enough support near the 1.24 level to turn things around and form a hammer. That of course is a bullish sign in the fact that we been consolidating for some time suggests to me that the buyers are about to jump back into this market and push. I think the 1.27 level will continue to be resistive, so I do not expect a move above there. Short-term buying opportunities continue to present themselves for those of you who are patient, and this seems to be yet again another example of that.
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.
