The GBP/USD pair rose during the session on Tuesday as the risk appetite rose globally. The move higher coincided with a lot of stimulus talk, and the rising stock markets. The top of the recent gap has been reached, and it looks as if the bulls are trying to send this pair higher. However, the fact is that the pair is very weak at the moment, and as a result we are looking to fade the rallies as they come. The 1.5750 level above should be very resistive and this would be a great place to look for a weak candle. However, we may get that before we even get there. Buying isn’t something we do at the moment.
Written by FX Empire