GBP/USD had a very back-and-forth week as traders have both sold and bought this pair. The 1.65 held again, as the pair cannot close above it. Because of
GBP/USD had a very back-and-forth week as traders have both sold and bought this pair. The 1.65 held again, as the pair cannot close above it. Because of this, we feel that this pair might not be a great candidate for a longer-term trade. The 1.60 would have to be broken to feel good about placing a short, and the 1.66 level has to be broken to the upside in order to buy. In the mean time, there are better pairs to trade.
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.
