The GBP/USD pair tried to rally during the session on Tuesday, but as you can see failed. The resulting candle is a shooting star, NED is basically where we thought we would run into the first amount of resistance, the 1.54 handle. That being said, a pullback here would be a surprise but expect the 1.5250 level to offer some kind of support going forward. With that being the case, we think that this market a bit on the choppy side and are going to simply forgo trading it at the moment. However, we will have our eyes on this chart.
Written by FX Empire