The GBP/USD pair has a bearish day on Monday, as traders reacted to statements about the lack of speed of an upcoming EU solution. This put the “risk on”
It should be noted that the 1.57 was once resistance, and it could step up to be support going forward. Because of this, we aren’t willing to sell until we get a daily close below that level, but until global risk slows down – it is hard to get overly bullish on any of the risk pairs, cable included.
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.
