The GBP/USD pair had an extremely bullish session today as the 1.58 level finally gave way. We have now broken down, and should see much higher prices. In fact, we are aiming for the 1.63 level and continue to hold onto this trade until that level gets hit or some kind of drastic change in market sentiment.
If you are a more conservative trader, you could wait for a bit of a pullback, but it seems like that may not happen. This was an extremely explosive move, and as the market has been held below the 1.58 level so vehemently over the last several months, this could have real legs. We only buying this pair now, we do not sell it under any circumstances.
Written by FX Empire