The GBP/USD pair fell initially during the session on Tuesday, but as you can see bounced enough to form a green hammer by the end of the day. We think that this market is going to the 1.5250 level in the short term, but will more than likely find a significant amount resistance of there. That being said, we are more than willing to sell it in that general vicinity on signs of resistance as the downtrend has been so strong over the last couple of months. In the meantime though, we are simply flat as this market doesn’t offer as much room to trade at the moment.
Written by FX Empire