The British pound has gone sideways overall during the session on Wednesday, in a consolidated and messy manner. I believe that ultimately the British pound will continue to fall, and that the recent rally has been more about the US dollar than anything else. With this in mind, I’m looking to sell this market on short-term rallies, but I recognize that the choppiness in the volatility will continue. Of all of the markets that I am currently trading, this is probably one of the least interesting as we see the 1.2850 level offering support below.
Written by FX Empire