The GBP/USD para rallied a bit during the session on Thursday, as we continue to grind sideways overall. At this point, it looks as if the markets are
The GBP/USD para rallied a bit during the session on Thursday, as we continue to grind sideways overall. At this point, it looks as if the markets are trying to figure out where to go next, but I do see a significant amount of resistance at the 1.25 handle. If we can break above there, the market should continue to go higher, perhaps reaching towards the 1.27 handle. And exhaustive candle near the 1.25 level would be a nice selling opportunity, so I believe that the next couple of days will be important. In the meantime, I will be on the sidelines waiting.
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.
