The GBP/USD pair initially tried to rally during the day on Tuesday, but turned around to form a very bearish candle. It looks as if were going to test the 1.25 handle, and if we can break down below there the market should then reach towards the 1.24 handle. A supportive candle could also turn around the market and make us go looking for the 1.26 handle. The volatility should continue, as the article 50 will be triggered soon. However, I think that most of the negative momentum has been priced in.
Written by FX Empire