The GBP/USD pair rallied during the session on Monday, breaking above the 1.5650 level. However, as you can see we did not hold onto much of the gains in it appears that the market is getting a bit “tired.” That being the case, we feel that this market may struggle to get to the 1.5750 level, but in the end we think it will. The real question is can be what happens at that level. Until then, we think that this market is positive and we would buy pullbacks that show signs of support, at least for the short term.
Written by FX Empire