The GBP/USD pair rose during the session on Tuesday, but failed to hang onto much of the gains for the session. The resulting candlestick looks a bit like a shooting star, and as a result it looks weak. However, with the 1.58 level below being so supportive, we cannot sell until we get a daily close below that level. As for buying, we see the recent highs at about 1.6070 as resistance area that must be overcome in order for us to be comfortable being long. In the meantime, we expect a lot of choppy movement in this market.
Written by FX Empire