The GBP/USD pair rose during the session on Friday, smashing through the 1.5250 level. The matter fact, this pair now looks very healthy and it appears that we are going to go higher. On a break of the highs from the Friday session, we think that it is a buy signal, but we are cognizant of the fact that the 1.54 level does offer a bit of resistance. Above there, we think the 1.55 level also be resistant as well, so caution would be considered. As far as selling is concerned, we do not have that signal at the moment and therefore will not do so.
Written by FX Empire