The GBP/USD pair rose during the session on Monday, clearly vaulting over the 1.5250 handle. This is the level that we had previously stated needed to be overcome in order to feel bullish about this market, and as a result we are perfectly bullish of this market now. We think that the market heads towards the 1.55 handle, the next serious resistance level, and at that point time we will have to make more decisions. Quite frankly though, we feel that pullbacks will offer buying opportunities for the next couple of hundred pips.
Written by FX Empire