The GBP/USD pair fell for the first half of Wednesday, but bounced again to produce a hammer. This is especially impressive as the UK officially went into recession during the session as well! Because of the resilience in this pair , we believe the bullishness should continue, and as a result will only buy it. In fact, on pullbacks this pair looks very attractive until we break below the 1.59 handle. In the meantime, we still expect the 1.65 level – even if it doesn’t make much sense to us, but the charts say it – so we listen.
Written by FX Empire