The GBP/USD pair initially fell during the course the week but found enough support below to turn things back around and form a hammer. With that being
The GBP/USD pair initially fell during the course the week but found enough support below to turn things back around and form a hammer. With that being the case, the hammer looks as if it is telling us that the markets going to try to reach towards the 1.58 level, and then ultimately the 1.60 level. We have no interest whatsoever in selling this pair, and believe that any pullback and we get at this point in time will end up being a buying opportunity given enough time.
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.
