The GBP/USD pair fell during the session on Monday, slicing back through the 1.55 handle. However, there is quite a bit of support below and we are not willing to start shorting this pair at the moment. As things stand, there is a massive hammer from last week that we are still just now cutting into. That being the case, we feel that this market will form some type of supportive candle below, and present a nice buying opportunity. Regardless, we don’t want to be bothered shorting a pair that has been so strong recently.
Written by FX Empire