The GBP/USD pair rose during the session after the Federal Reserve released its minutes, which show that a lot of the members on the committee are a bit confused as to what they want to see before quantitative easing gets tapered. Nonetheless, we think that there is plenty of resistance above to put a cap on this market, and as a result we are looking for some type of resistive candle to start selling again. Until then, we will simply sit on the sidelines and let the market come to us. As far as buying is concerned, we would have to see a nice daily close above the 1.53 handle.
Written by FX Empire